09-14-2011 09:08 AM #1
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- Aug 2004
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Greek Debt exposure know rating of 2 French banks
redit rating agency Moody's has downgraded two French banks because of their exposure to Greek debt.
Credit Agricole was cut from Aa1 to Aa2 and Societe Generale from Aa2 to Aa3.
A third bank, BNP Paribas, was kept on review for a possible downgrade.
German Chancellor Angela Merkel and French President Nicolas Sarkozy are due to hold talks on Wednesday with Greek Prime Minister George Panandreou, in response to growing market fears of an imminent debt default by Greece