Moody’s gave negative forecasts to long-term ratings of 17 German banks on Wednesday, RIA Novosti reports.
This includes KB Deutsche Industriebank and Deutsche Postbank. The negative forecast means that the rating may drop in the next 12-18 months.
The long-term rating of the European Financial Stability Facility dropped.
Moody’s gave a negative forecast to banks of Germany, Netherlands and Luxembourg this week, although the rating remains at Aaa. Greece’s possible quit of the euro zone is one of the main reasons for escalation of crisis. Spain and Italy will need additional financial assistance. They will need more support than Greece, Ireland or Portugal.
