Big banks get ratings slashed

AFP, The West Australian June 22, 2012, 8:32 am

Big banks get ratings slashed

The health of 15 of the world's largest financial institutions has been called into serious question, as Moody's downgraded their credit ratings, citing exposure to Europe's economic woes.

Some of the biggest names in banking, including Goldman Sachs, Barclays, Citigroup, HSBC and Deutsche Bank, saw their ratings slashed, spelling increased scrutiny from markets and potentially higher borrowing costs.

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