Standard & Poor’s downgraded the credit ratings of three of Europe’s top banks on Tuesday as new regulations and volatile market conditions threaten financial companies on the continent. Barclays plc (BCS), Credit Suisse (CS) and Deutsche Bank (DB) all had their ratings cut one notch.
Deutsche Bank and Barlcays were downgraded from A+ to A. Credit Suisse was downgraded from A to A-.
“We consider that these banks’ debtholders face heightened credit risk owing to the industry’s tighter regulation, fragile global markets, stagnant European economies and rising litigation risk stemming from the financial crisis,” S&P said. “A large number of global regulatory initiatives are increasingly demanding for capital market operations.”
Barclays shares were down 20 cents, or 1.17%; Credit Suisse shares were down 83 cents, or 3.09%; and Deutsche Bank shares were down $1.02, or 2.48%, during morning trading on Wednesday.
The Bottom Line
Shares of Barclays (BCS) have a dividend yield of 1.43% based on Wednesday’s intraday trading price of $16.83 and the company’s annualized dividend payout of 24 cents per share.
Shares of Credit Suisse (CS) have a dividend yield of 0.42% based on Wednesday’s intraday trading price of $26.04 and the company’s annualized dividend payout of 11 cents per share.
Shares of Deutsche Bank (CS) have a dividend yield of 1.87% based on Wednesday’s intraday trading price of $40.15 and the company’s annualized dividend payout of 75 cents per share.
Barclays (BCS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars. Credit Suisse Group (CS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars. Deutsche Bank (DB) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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