Barclays was among six global banking groups downgraded by Fitch last night, with the ratings agency citing the challenging financial markets.
Long-term issuer default ratings for Barclays, Deutsche Bank and Credit Suisse were downgraded to A from AA- while BNP Paribas fell to A+ from AA-.
Bank of America and Goldman Sachs were cut to A from A+.
In a statement, Fitch said the banks “are particularly sensitive to the increased challenges the financial markets face”.
The downgrades “reflected challenges faced by the sector as a whole, rather than negative developments in idiosyncratic fundamental creditworthiness,” Fitch added.
The credit ratings of the world’s most powerful lenders have come under the microscope amid weak economic growth and concerns about whether European leaders have done enough to ease the region’s debt burden.
