Moody's downgrades Barclays rating – Irish Examiner
British banking giant Barclays today saw its credit rating outlook
downgraded to negative to reflect concerns over the impact of Bob
Diamond's shock resignation.
Ratings agency Moody's said the
departure of Mr Diamond, as well as chairman Marcus Agius and chief
operating officer Jerry del Missier, in the wake of the rate-rigging
scandal could lead to the break up of its powerhouse investment arm.
The
cut - from stable to negative - comes ahead of a vote among British MPs
to decide whether Parliament or a judge should stage an investigation
into the Libor-fixing affair, while UK Chancellor George Osborne has
accused Labour of being "clearly involved" in it.
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