Published on: 17.2.2009 | 12:02
Last update on: 17.2.2009 | 12:05
Last update on: 17.2.2009 | 12:05
MOODY'S FORECASTS
Recession deepest in SEE region; banking sector under pressure
Author/source: SEEbizZAGREB – Recession will be deepest in the SEE countries as great imbalances are expected to exert considerable pressure on local banking sectors, Moody’s rating agency estimated.
“The aggravated economic conditions in Eastern Europe lower ratings of branch offices in SEE region which might have a negative impact on credit ratings of their parent banks”, the agency reports.
European banks, headed by UniCredit, Erste Bank, Raiffeisen International and Societe General, might now become more selective in financing their branches which would lower their credit ratings. However, their withdrawal from one market would cause a domino effect in another, which Moody’s analysts see as the main reason for continuous financing of the SEE branches.
Teme
banking sector | credit rating | erste bank | forecasts | global crisis | moody''s | raiffeisen international | recession | SEE region | Societe General | UniCredit
banking sector | credit rating | erste bank | forecasts | global crisis | moody''s | raiffeisen international | recession | SEE region | Societe General | UniCredit
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