Moody's downgrades biggest French banks

Credit rating agency Moody's has downgraded France's three big banks due to their problems with borrowing money.

Credit rating agency Moody's has downgraded France's three big banks due to their problems with borrowing money.

It cut the rating on long-term debt of Credit Agricole and BNP Paribas one notch from Aa2 to Aa3, and Societe Generale one notch, from Aa3 to A1.

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