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Negative ratings among global banks jumped from 13 to 69 in the last quarter of 2007.
Figures released in the latest Fitch Ratings quarterly Global Bank Rating Trends report have shown that the negative movement intensified in Q407 as the liquidity shock continued to hurt the market.
While 78.3 per cent of bank ratings still have a stable outlook, Fitch expects negative ratings to increase throughout 2008.
“Higher funding costs are likely to exacerbate risk aversion and reduce lending demand, while a slowdown in economic growth would undoubtedly mean higher risk costs for banks,” said managing director of Fitch’s Financial Institutions Group, Alison Le Bras.
Published: 22-01-08
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