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Moody's Downgrades Rbs To B3 From Ba3


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HOLA441
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HOLA442
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HOLA443
Wow!

Link?

Cheers

Mike

Waiting for a web linky - I got it off Bloomberg.

* The rating cut to B3 is for their Tier 1 Non-Cumulative Preference shares

* Their Junior Subordinated debt is cut from Baa3 (still Investment Grade) to Ba1 (now classified as "High Yield" - akin to the middle/2nd top tranche of a CDO) - it's still on review for further downgrade.

Bear in mind Moody's generally apply the stricter methodology compared to S&P and Fitch, but it's not good.

Edited by whyohwhy
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HOLA444
Waiting for a web linky - I got it off Bloomberg.

* The rating cut to B3 is for their Tier 1 Non-Cumulative Preference shares

* Their Junior Subordinated debt is cut from Baa3 (still Investment Grade) to Ba1 (now classified as "High Yield" - akin to the middle/2nd top tranche of a CDO) - it's still on review for further downgrade.

Bear in mind Moody's generally apply the stricter methodology compared to S&P and Fitch, but it's not good.

isn't that what the employees bonuses were paid in?

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HOLA445
That's the same rating as some of first loss pieces of the SubPrime MBS / CDOs from last year.... "junk bond" territory

Most on here knew RBS were junk soon after they bought ABN , nice of Moody's to finally confirm it though ;)

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HOLA446
Most on here knew RBS were junk soon after they bought ABN , nice of Moody's to finally confirm it though ;)

And some on here knew RBS were junk long before they bought ABN.

"it started in Amsterdam/Rotterdam, doncha know?".

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HOLA447
That's the same rating as some of first loss pieces of the SubPrime MBS / CDOs from last year.... "junk bond" territory

Bearing in mind that the British taxpayers own the majority of RBS does that mean that UK is also B3?

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HOLA448
course, being downgraded is a sign of strength

"One has to have been strong to have been downgraded"....N.E.Minister...nulab June 4th 2009

Their strength is their weakness, and their weakness is their strength!

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HOLA449
Waiting for a web linky - I got it off Bloomberg.

* The rating cut to B3 is for their Tier 1 Non-Cumulative Preference shares

* Their Junior Subordinated debt is cut from Baa3 (still Investment Grade) to Ba1 (now classified as "High Yield" - akin to the middle/2nd top tranche of a CDO) - it's still on review for further downgrade.

Bear in mind Moody's generally apply the stricter methodology compared to S&P and Fitch, but it's not good.

Can you check your data as I'm looking on Bloomberg now and see that only Preferred Stock has been downgraded for RBS -from B3 to Ba3. Junior Subordinated debt is Ba2 and has been since 3rd April.

I can see a downgrade of Junior Subordinated debt on RBS Capital Trust x and Royal Bank of Scotland PLC (2783Z LN) (this is not the same as the quoted RBS (RBS LN) as far as I can make out)

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HOLA4410

course, being downgraded is a sign of strength

"One has to have been strong to have been downgraded"....N.E.Minister...nulab June 4th 2009

Edited by Bloo Loo
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