Fitch Lowers Rating On 4 European Banks
Fitch Ratings downgraded 4 European banks.
Fitch lowered its rating on Landesbank Berlin Holding AG from double A-minus to A-plus. Fitch also lowered its rating on Lloyds Banking Group PLC (NYSE: LYG) from double A-minus to A.
It also downgraded Royal Bank of Scotland Group PLC (NYSE: RBS) from double A-minus to A and UBS AG (NYSE: UBS) from A-plus to A.
LYG shares dropped 5.75% to close at $2.13 yesterday, while RBS shares dipped 6.08% to close at $7.73 yesterday. UBS shares dropped 1.63% to $12.07 in after-hours trading.
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