Moody’s downgrades long-term ratings of six Canadian banks
By The Canadian Press - Monday, January 28, 2013 - 0 Comments
TORONTO – Most of Canada’s biggest banks have been downgraded by Moody’s Investor Services,…
TORONTO – Most of Canada’s biggest banks have been downgraded by Moody’s Investor Services, one of the world’s major credit rating agencies.
Moody’s says it took the step because of concerns over the banks’ exposure to heavily indebted consumers and elevated housing prices.
As mortgage lenders, Canada’s banks have benefited over the past few years from lending to home buyers.
