Fitch puts Rabobank on negative watch
Ratings agency Fitch has put Rabobank on negative credit watch, along with a swag of other European banks.
Ratings agency Fitch has put Rabobank on negative credit watch, along with a swag of other European banks.
The move could impact Rabobank preference shares [NZDX:RBOHA, RCSHA] listed on the NZX Debt Market (both were flat in early afternoon trading).
The change is tied in to the current financial nerves besetting Europe: among other banks placed on negative watch are Deutsche, Credit Suisse, BNP Paribas and Societe Generale, along with United States-based Morgan Stanley and Goldman Sachs.
Fitch cited the risk about private banks’ exposure to sovereign debt problems in Europe, and also the likelihood of sluggish economic growth over the next few years.
Fitch also downgraded Royal Bank of Scotland and Lloyds A from AA-, following Moody's.
Rob Hosking
Fri, 14 Oct 2011
Fri, 14 Oct 2011
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Fitch puts Rabobank on negative watch
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