Banks in the United Kingdom and Europe risk their credit ratings being damaged because of “contagion” from Greece's debt crisis, a ratings agency has warned. Moody's said banking systems faced “very real, common threats” if doubts were raised about their governments' abilities to pay debts. It referred specifically to UK, Irish, Italian, Portuguese and Spanish banking systems.
Brazil plans to sell bonds in international markets in coming weeks, taking advantage of the lowest borrowing costs since October 2007, Treasury Secretary Arno Augustin said.
The behaviour of two credit rating agencies in the run-up to the financial crisis has been criticised by US senators following an investigation.