Moody's Official Says Bank Downgrades Will Be Delayed To Assess JP Morgan, Euro -Bloomberg

Date : 05/14/2012 @ 11:31AM
Source : Dow Jones News
Stock : Moodys Corp. (MCO)
Quote : 132.57  5.4 (4.25%) @ 4:15PM

Moody's Official Says Bank Downgrades Will Be Delayed To Assess JP Morgan, Euro -Bloomberg

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Moody's Investors Service plans to delay its publication of bank downgrades as it evaluates the impact of J.P. Morgan Chase & Co.'s (JPM) trading losses and the prospect of a euro breakup, Bloomberg News reported, citing an unnamed Moody's official.

However, a Moody's spokeswoman said the timetable for "concluding bank rating reviews" hasn't changed. The spokeswoman said in an email that "Moody's expects to conclude the reviews by the end of June."

Moody's announced in February that it would review the credit ratings of 114 banks in 16 European countries. The ratings agency delayed its timetable in April, saying it would reach downgrade decisions on some of the banks in May.

Full story at http://www.bloomberg.com/news/2012-05-14/moody-s-said-to-delay-bank-downgrades-amid-crisis-jpmorgan-loss.html

-Dow Jones Newswires; 212-416-2900

 
 

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