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Moody's changes outlook on 17 German banking groups to negative following outlook change on German sovereign and sub-sovereigns
Moody's Investors Service has today changed to negative the outlooks of 17 German banking groups and several subsidiaries long-term debt and deposit ratings or their long-term guaranteed debt obligations, whose ratings incorporate support from the German government and/or several German federal states or municipalities. Today's action follows Moody's decision to change the outlooks on the German sovereign and sub-sovereign ratings to negative from stable, as announced on 23 and 24 July, respectively. The actions announced today are as follows: (i) The outlook of several banks' senior unsecured and subordinated debt ... (full story)
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