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S&P Credit Research14617 word report
published Jun 16, 2009
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S&P Credit Research
| Abstract: | In 2009, European banks must navigate a deep regional recession that comes on the heels of unprecedented losses at several of the sector's largest banking groups in 2008. The huge losses and vanishing prospects for a quick rebound have triggered multiple emergency support actions from national governments and the European Central Bank (ECB). While these have calmed traumatized financial markets, in Standard&Poor's Ratings Services' opinion most European banks remain vulnerable to the depressed environment. Significantly higher credit losses will characterize the second phase of the downturn of the European, and global, banking industry. Our outlooks are negative on the credit ratings of more than half of the largest banking groups in Europe, due to our assessment that they
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| Brief Excerpt: | RESEARCH Ratings Definitions Industry Report Card: European Banks Face Higher Credit Losses As The Downturn Enters Its Second Phase Publication date: 16-Jun-2009 Primary Credit Analyst: Scott Bugie, Paris (33)1-4420-6680; scott_bugie@standardandpoors.co...
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| Report Type: | Commentary
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
