German newspaper Handelsblatt is reporting Fitch are preparing to downgrade a number of European banks, including Germany's Commerzbank.
As soon as Monday
Original article is here (in German)
English translation (I hope it's a good one!):
- Fitch had warned in April against a downgrade of European banks
- Now the rating agency takes seriously
- Dozens of institutions are likely to be affected - including the German Bank and Commerzbank
- The Handelsblatt (Monday edition) learned from financial circles, the downgrades are imminent - at the beginning of the week
- A spokesman for the credit rating agency would not comment on the information.
h/t to @Sean_lee_forex
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This is a EUR negative