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Moody’s Downgrades 7 Portuguese Banks

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User ID: 1465782
United States
07/17/2011 12:13 AM
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Moody’s Downgrades 7 Portuguese Banks
Moody’s which is already not all that loved in Portugal, is about to make some more friends after it just downgraded the 7 biggest Portuguese banks, all of which, incidentally, passed the Stress Test that nobody remembers any more.
Moody’s Investors Service has today downgraded the debt ratings of seven Portuguese banks.

Today’s rating actions were triggered by the downgrade of the rating of the Republic of Portugal to Ba2 from Baa1 last week.

The following banks have been downgraded:
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