Fitch Downgrades European Bank Hybrids

21 Aug 2009

Fitch Ratings has downgraded the hybrid securities of European banks, including Lloyds Banking Group, Royal Bank of Scotland and ING Group, among others.

Fitch Ratings has downgraded the hybrid securities of European banks, including Lloyds Banking Group, Royal Bank of Scotland and ING Group, among others. According to Fitch, the downgrades reflect heightened risk from deferred interest payments following the European Commission’s clarification on bank hybrid capital and how it applies ...

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