Societies in black books

Jones, Lee
April 2009
Money Marketing;4/23/2009, p28
The article reports that Moody's Investors Service Inc. has downgraded the top building societies as confidence in mutuals' loan books and investments remains to slide in Great Britain. According to the company, the move includes the findings derived from the analysis of various stress scenarios equated to bank's exposure to different asset classes. It is said that the move of Barclays is an overreaction based on more facts that rating agencies have something to prove.


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