Moody’s Puts Romanian BRD On Review For Downgrade
Moody's Investors Service placed under review for downgrade the ratings of Romanian bank BRD-Groupe Societe Generale (BRD.RO), following the recent downgrade of French parent bank's ratings.
On December 9, Moody’s has cut the debt of France’s top three lenders, Societe Generale, BNP Paribas and Credit Agricole, citing deteriorating liquidity and funding conditions.
Following the move, the agency announced rating actions on Czech, Greek, Romanian and Russian subsidiaries of Societe Generale.
In Romania, BRD’s Baa2/Prime-2 long-term and short-term local currency deposit ratings were placed under review for downgrade.
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