© Reuters. FILE PHOTO: A Moody’s sign on the 7 World Trade Center tower is photographed in New York August 2, 2011. REUTERS/Mike Segar
FRANKFURT (Reuters) – The ratings agency Moody’s (NYSE:) said on Wednesday that it had downgraded the outlook for banks in Germany, Italy and four other countries to “negative” from “stable” as the energy crisis and high inflation weaken economies.
“We expect operating conditions to deteriorate further,” Louise Welin of Moody’s said.
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