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S&P Downgrades Numerous European Banks, Warns Deutsche Bank May Be Next
Just hours after apparently settling its suit with the USA (not at all retaliation for downgrading them), S&P has taken the big red marker out on a slew of European banks:
- Downgrades: Credit Suisse, Barclays, Lloyds, Bank of Scotland, RBS, HSBC, and Ulster Bank
- On Watch Negative: Raiffeisen Zentralbank, MBank, Unicredit, Commerzbank, and Deutsche Bank
The driver of the shift in perspective is the apparent removal of the 'bailout put', as the prospect of "extraordinary government support" appeared less likely under recently passed bail-in legislation.
- *S&P TAKES VARIOUS RATING ACTIONS ON SOME EUROPEAN BANKS
- *S&P: ACTIONS REFLECT EU BANK RECOVERY & RESOLUTION DIRECTIVE
- *S&P MAY REMOVE SYSTEMIC SUPPORT NOTCHES IN SOME CASES IN REVIEW
Downgrades
- *RBS GROUP PLC CUT TO BBB- FROM BBB+ BY S&P, OTLK TO STABLE
- *LLOYDS BANKING GROUP CUT TO BBB FROM A- BY S&P, OUTLOOK TO POS
- *S&P: ULSTER BANK TO BBB+/WATCH NEG FROM BBB+/NEGATIVE - FOR
- *S&P: HSBC HOLDINGS PLC TO A/STABLE FROM A+/NEGATIVE - FOR
- *S&P: STANDARD CHARTERED PLC TO A-/STABLE FROM A/NEGATIVE - FOR
- *BARCLAYS PLC CUT TO BBB FROM A- BY S&P, OTLK STABLE
- *S&P: ROYAL BANK OF SCOTLAND GROUP PLC TO BBB-/STABLE FROM BBB+/
- *S&P: CREDIT SUISSE GROUP AG TO BBB+/STABLE FROM A-/NEGATIVE
Outlook Neg:
- *RAIFFEISEN ZENTRALBANK OESTERREICH AG MAY BE CUT BY S&P
- *S&P: COMMERZBANK AG TO A-/WATCH NEG FROM A-/NEGATIVE - FOR
- *S&P: COMMERZBANK AG MAY BE CUT
- *S&P: NATIONWIDE BUILDING SOCIETY TO A/WATCH NEG FROM A/NEGATIVE
- *NATIONWIDE BUILDING SOCIETY MAY BE CUT BY S&P
- *S&P: MBANK TO BBB+/WATCH NEG FROM BBB+/NEGATIVE - FOR
- *MBANK MAY BE CUT BY S&P
- *S&P: DEUTSCHE BANK AG TO A/WATCH NEG FROM A/NEGATIVE - FOR
- *DEUTSCHE BANK AG MAY BE CUT BY S&P
- *S&P: UNICREDIT BANK AG TO A-/WATCH NEG FROM A-/NEGATIVE - FOR
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well, duh. Greece just said they don't intend to pay on their debt. ... Cue the european banking crisis.
No Canadian banks? I am pretty sure that Canadian housing bubble is financed with debt.
you have to be a sheeple to believes in these credit agency
We should called them BS INDEX credit rating
We just became a US Gov patsy, and the fucking Germans want their gold back. DOWNGRADE!
Why not grow some balls and downgrade the US to it's true level?
You know, since that suit was totally not politically motivated or anything...
The DOW is up 255 points on this news. Now that Mario is printing non stop we'll have another 6 months of ramp-athons. There *IS* inflation -- its in the stock prices of stagnant corporations.
If they keep buying all their stock, the sky's the limit.
When interest rates rise, Canadian banks will be incredible shorts.
It was probably part of their settlement agreement with the government. They are trying
to scare the IMF and Merkel into bailing out Greece and not drawing it out. Don't rock the
boat. If it sinks we all drown.
See this shit show will never stop....I can't take it anymore....please let it end or stop with the sky is falling articles...thanks
Seems like US is losing its nerve already. Perhaps NWO agenda has been delayed longer than planned.
But frankly, this is imho the first VICTORY of Yanis Varoufakis!
Oublie, oublie Loulou, Mais oublie mais oublie Loulou oublie la donc... Merci Charlie!
https://www.youtube.com/watch?v=_iTeRo7aa0g
Wow, how are they going to afford all those $1.5 billions in retaliatory fines from the governments of Switzerland, Germany, the UK, et al?
I was thinking the same thing. They must have deep pockets or the news benefits the US government. One or the other.
Least Dirty Shirt
I am so sick and tired of hearing the US is the "least dirty shirt". That's a lie, it's the dirtiest shirt, we are the MOST idebted nation on the planet, we produce nothing, we print the most money out of thin air....stop with the lies....I can't fuckign take it
I'm reminded of that scene from Fear and Loathing when Dr. Gonzo refuses to get off the carousel bar while tripping balls, and Hunter is trying to talk him down...
"It's not gonna stop, man... it's never gonna stop"
35% of ALL americans have debt in collections, we are the most indebted people EVER, most live paycheck to pay check and have no savings, some how how that makes us the cleanest dirty shirt??? please explain how that works agian!
we can print our own money. Euros can't.
We've never "defaulted" on our money. Most other countries have.
We've got lots of room to go before we default, if you go by the Japanese model.
We still have many productive companies (with offshore accounts), that produce stuff and employ people.
Look, I agree with you. But name another currency you are willing to jump in? Russia? they are a commodity driven economy that the west has declared financial war on. In the long run, they may win, but I'm not about to gamble on it.
The Euros? They're fucked seven ways to sunday.
The UK? They can print their own money, but they are about as bad off as we are, and they're not as big and diverse.
China? If you think they're more honest than our BLS, you need to get your head examined. Oh, and they're in the middle of a mind blowing bubble that puts ours to shame.
Where you gonna go? It's all fucked up. Everywhere.
Gold. Not US paper
You don't seem to recognize that the US Federal Reserve Note is no longer the international reserve currency. Talk about being in denial: https://s3.amazonaws.com/khudes/Twitter12.13.14.pdf
Not to worry, folks. The central bank scammers are at the end of the trolley line and we are taking over. We, the people. As in https://s3.amazonaws.com/khudes/Twitter2.2.15.pdf
and i was wondering why the Dow is up another 200 points today and Gold and Silver were attacked the entire London trading session...
silly me.
Who knows how many tons of gold ABX is sitting on just in storage.
They need actual cash to run their mines however and they also lever their product to raise that money.
"Long rocket launches."
When will S&P get downgraded?
Was this part of the settlement?
I'd be happy to help bailout S&P if they keep telling the truth.
Financial turmoil this will lead to. That will lead to crisis. Crisis leads to the dark side.
Apparently that was the unpublished element of the Holder settlement with S&P.
Hey, no ECB on their list?
To bad there is anyone left that gives a flying fuck what S&P has to say about anything. Nothing but a farce. All ratings agencies are in someones back pocket, just doing the bidding of their owners. When they do fuck up and take a shot at the USSA they get the shit jerked out ot their leash!
Complete scam. If I ran a euro bank I'd invite them to go and fuck themselves!
did you ever notice how about 99% of stocks are identified as a "buy".
It might be time for Jamie Dimons daughter to ask her daddy what a crisis is
SHe could be building a crowdsourcing replacement to the S&P.
Everybody blog and tweet in who is the worst bank... Yahhhhhh Tweets to the rescue
Christ. This means tomorrow, all of these bank stocks will be trading at new ATH.
BTFD - Buy the Fucking Downgrade
it was barzini all along
They might as well just downgrade all the governments of those countries... The banks are just parasitic extensions of the various governments in Europe.
As long as they don't downgrade USA again. That would be . . . unwise.
Maybe the European banksters need to threaten S&P like the Eric Holder mobsters did, only more drastic.
Have some hoodlums threaten their lives. It always worked for the mobsters.
You have to hand it to organized crime. At some point, it realized buying City Hall was easier - and cheaper - than fighting it.
There are no shortage of dollars or dollar creation even.
Treasury is now financing the debt with 30 day, 60 day and one year paper now.
Go ahead....nuke the credit markets all you crazy speculators!
The Treasury doesn't care if you blow up your banks again.
Eric Holder is threatening the S&P if they don't go after the Euro banks..... The alternative is that we begin to belive that WS Banks are the problems... Oh no cannot have that...
I thought counterfeiting was illegal?
Just a "downgrade" now?
Wow...how the mighty have never risen.
Surprised HSBC is on the downgrade list. Money laundering for drug cartels and terrorist groups is on the rise.
I assume these downgrades were approved?
Yup, timing indicates that was part of the deal to make US Justice Department go away quietly.
Let me save everyone some money. I just downgraded everything except food, lead, and gold.
...and ass, I've got a buy on ass.
S&P downgrade of Russia seems a little shortsighted.
Downgrading Deutsche lol!
Nobody seems to care. carry on
Any chance, at all, that S&P will not be sued by these banks and every other downgradee with a fleet of lawyers?
S & P, you should downgrade your own mother.
down down down there's a burning ring of fire