2010.10.2813:49:00UTC+00State Withdrawal from German Banking System to Pressurize Ratings of the Banks : Moody's

News:

• Credit rating agency Moody's said that the gradual withdrawal of state support from the German banks may pressurize the ratings of the individual banks.
• It added that the German banks are benefiting from the outside support.
• Moody's estimated that the banks are expected to post a cumulative net profit in the single-digit billions of euros in 2010.
• Moody's maintained a negative outlook on the German banking sector, with profitability historically below the European average citing that the regulatory and legal changes in Germany might reduce the likelihood of support.