S&P downgrades 3 French banks including BNP Paribas
Paris - AFP
Ratings agency Standard and Poor's downgraded three French banks on Thursday, including giant BNP Paribas, and placed 10 others on negative outlook including Credit Agricole and Societe Generale. "The economic risks under which French banks operate have increased in our view, leaving them moderately more exposed to the potential of a more protracted recession in the eurozone," S&P said in a statement explaining its action.
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