S&P cuts ratings on six European Banks

S&P cuts ratings on six European Banks. Six European banks, including Credit Suisse Group AG and HSBC Holdings Plc, had their ratings cut by Standard & Poor's on the prospect that governments are less likely to provide aid in a crisis. Barclays Plc and Lloyds Banking Group Plc also had the long-term ratings on their non-operating holding companies reduced, the ratings company said in a statement Tuesday. Standard Chartered Plc and Royal Bank of Scotland Group Plc had both their long-term and short-term ratings lowered. Deutsche Bank AG was among other banks in Germany and Austria that may have their credit ratings lowered, S&P said today. (VIEW LINK)