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SocGen was cut to Aa3 from Aa2 while Credit Agricole was taken down to Aa2 from Aa1.
FORBES: Stocks Mixed After Moody's Downgrades SocGen And Geithner Rejects Lehman-Moment
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After three yearly downgrades, Japan has a sovereign credit risk rating of Aa3 with a negative outlook, the worst rating among developed nations.
FORBES: The Panic Spreads
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After three yearly downgrades, Japan has a sovereign credit risk rating of Aa3 with a negative outlook, the worst of any developed nation.
FORBES: The Panic Spreads
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Spanish bank Santander had its UK business downgraded by one notch, to A1 from Aa3, while Nationwide Building Society suffered a two-notch cut, to A2 from Aa3.
BBC: UK financial firms downgraded by Moody's rating agency
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The downgrades include a two-notch cut for government-controlled RBS, to A2 from Aa3, and a cut of one-notch, to A1 from Aa3, for Lloyds TSB, a division of part-nationalised Lloyds Banking Group.
BBC: UK financial firms downgraded by Moody's rating agency