FRANKFURT (Reuters) – The credit rating agency Moody’s said on Thursday that it was downgrading its outlook for the banking sector in a number of European countries.
It changed the outlook to negative from stable for the banking sectors of Germany, Britain and France, Belgium, the Netherlands, and Sweden.
“A deteriorating operating environment with low economic growth and high borrowing costs will hit credit growth as well as loan performance in the largest European countries, particularly in the corporate sector,” said Moody’s analyst Effie Tsotsani.
(Reporting by Tom Sims; editing by Bartosz Dabrowski)
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