Moody's, S&P take steps to downgrade Barclays |
USA TODAY - Jul 5, 2012 |
Two leading credit rating agencies took steps Thursday toward downgrading Barclays in the wake of a trading scandal that's seen three senior Barclays executives, including CEO Bob Diamond, hand in their resignations.
Although both Moody's and Standard & Poor's maintained their ratings on the bank, they lowered their outlooks to "negative" from "stable." That means that a downgrade of the actual rating is now more likely.
Legislators in Britain's House of Commons engaged in a noisy and bitter debate Thursday ahead of a vote on how to investigate the banking industry in the wake of Barclays' incident.
Conservative Prime Minister David Cameron is seeking approval for his plan for what he calls a "swift and decisive" investigation to be carried out by a panel of lawmakers and wrapped up by the end of the year.
Read Full Article from USA TODAY
- Posted: 2012-07-05 13:16:03
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