Moody's, S&P take steps to downgrade Barclays

Two leading credit rating agencies took steps Thursday toward downgrading Barclays in the wake of a trading scandal that's seen three senior Barclays executives, including CEO Bob Diamond, hand in their resignations.

Although both Moody's and Standard & Poor's maintained their ratings on the bank, they lowered their outlooks to "negative" from "stable." That means that a downgrade of the actual rating is now more likely.

Legislators in Britain's House of Commons engaged in a noisy and bitter debate Thursday ahead of a vote on how to investigate the banking industry in the wake of Barclays' incident.

Conservative Prime Minister David Cameron is seeking approval for his plan for what he calls a "swift and decisive" investigation to be carried out by a panel of lawmakers and wrapped up by the end of the year.

Read Full Article from USA TODAY

- Posted: 2012-07-05 13:16:03

More Stock Investor Place Company News

Alibaba's Jack Ma Is Moving On, With an IPO Looming Pfizer’s Possible Unit Shuffle Triggers Breakup Concern Lululemon Raises 4th-Quarter Guidance But Misses Expectations; Shares Down Dell Shares Surge After Report of Possible Buyout ARMZ Seeks Rest of Uranium One for $1.3 Billion; Won’t Raise Bid

Stock Investor Place Company News Archive

January 2013 December 2012 November 2012 October 2012 September 2012 August 2012 July 2012 June 2012 May 2012 April 2012 March 2012 February 2012 January 2012 December 2011 November 2011 October 2011 September 2011 August 2011 July 2011 June 2011 May 2011 April 2011 March 2011 February 2011 January 2011 December 2010 November 2010 October 2010 September 2010 August 2010 July 2010 June 2010 May 2010 April 2010 March 2010 February 2010 January 2010 December 2009 November 2009 October 2009 September 2009 August 2009 July 2009 June 2009 May 2009 April 2009 March 2009 February 2009 January 2009 December 2008 November 2008 October 2008 September 2008 August 2008 July 2008 June 2008 May 2008