|June 21, 2012
Source: Market Watch
Moody's Investors Service is readying a downgrade for British banks, according to media reports Thursday. Barclays PLC, HSBC Holdings PLC and Royal Bank of Scotland Group PLC are expected to come under creditworthiness scrutiny as early as this evening London time, according to the reports. Moody's has already downgraded major financial institutions in Spain and Italy and the move comes as European markets are on edge over an expected report from an independent auditor detailing the health of the Spanish banking sector.