Stirred up trouble in the capital markets of the United States after Goldman Sachs and was one the "stabbed a knife in the back". Last Thursday, the rating agency Fitch announced cut several major banking institutions, including Goldman Sachs bond people of default ratings.
Fitch said in a statement, the rate cut is designed to reflect the banking sector as a whole encountered challenges. In the context of European debt crisis, on the big banks such as Goldman Sachs, similar nightmares may also be continued.
On December 15, Fitch, Goldman Sachs, Citigroup, United States Bank long-term issuer default rating by A+ per cent to a, Barclays and Switzerland credit by AA-down to a, BNP Paribas and Deutsche Bank reduced from AA-to A+, Morgan Stanley and France Industrial Bank long-term credit rating to maintain, but prospects are negative.
In Fitch's view, banking sector as a whole is reeling from the challenge, "which challenges both from economic development but also from a number of regulatory changes. "In accordance with European leaders in October an agreement on the protection in the banking sector, European banking must be implemented before the end of June 2012 tier-one capital adequacy rate of 9% minimum requirements.
In fact, from five European pigs to financial speculators, the agencies "downgraded storm" is one trouble follows another. Poor's announced on 15th, cut 10 Spain Bank's credit rating. At the end of last month, on November 29, p just lowered its United States banks, Citigroup, Goldman Sachs, Morgan Stanley, Wells Fargo, JPMorgan Chase, HSBC, UBS, Barclays ' credit rating.
It is learnt that the downgrades by biaopu or prospects of the banks reached 37, mainly due to the biaopu changed the rating methodologies of financial institutions. P is still stressed, however, the willingness and ability of the Government bailing out the banks were reduced.
"The weather crafty" Goldman Sachs this year in particular looked ' bad luck.Prior to this, because analysts on the United States Department of Justice filed lawsuit against Goldman Sachs worried, poor's will on May 12, Goldman's stock from "buy" downgraded to "hold", Rochdale securities and even adjust the Goldman's shares fell to "sell".
Analysts, credit rating cut by the rapid spread of sovereign States to financial institutions, suggests that global economic growth is weak and investors doubt that regulators can successfully address two realities of European debt crisis.
On December 16, Fitch said, I'm afraid to come up with solutions to the debt crisis of the eurozone's comprehensive plan, euro-zone debt crisis will continue.Fitch warned, including Italy and Spain, six eurozone countries could face debt rating cut in the near future.
Fitch also said, it is possible to cut in two years France current AAA rating, and called on the European Central Bank to assume more active assistance responsibilities.
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