Moody's Warns More Credit Downgrades Are Coming

The U.S. rating agency Moody's announced Thursday morning more downgrades are on the horizon — this time for nearly 20 global banks and dozens of additional European firms. Names like Morgan Stanley and UBS could see their long-term credit ratings affected. It's another indicator of the wide reach of Europe's debt crisis.

Copyright © 2012 NPR. For personal, noncommercial use only. See Terms of Use. For other uses, prior permission required.

STEVE INSKEEP, HOST:

Another blast from a credit rating is at the top of NPR's business news.

(SOUNDBITE OF MUSIC)

INSKEEP: The U.S. rating agency Moody's announced this morning that more downgrades maybe coming. This time for nearly 20 global banks and dozens of additional European firms, names like Morgan Stanley and UBS could see their long-term credit ratings affected here. It's another indication of the wide reach of Europe's debt crisis.

Moody's is asking how vulnerable banks are to the strained finances in many countries.

Copyright © 2012 NPR. All rights reserved. No quotes from the materials contained herein may be used in any media without attribution to NPR. This transcript is provided for personal, noncommercial use only, pursuant to our Terms of Use. Any other use requires NPR's prior permission. Visit our permissions page for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.

Support comes from: