Wednesday, June 15, 2011

French banks in firing line over Greek debt crisis






Contagion from the Greek financial crisis was felt in France on Wednesday, when credit ratings agency Moody's said it may downgrade its ratings of the country's three largest banks over their exposure to debt-ridden Greece.

BNP Paribas SA and Credit Agricole SA face one-notch downgrades and Societe Generale SA could see a two-notch decline through their holdings of Greek government bonds or through their local banking subsidiaries, Moody's said.
Businessweek