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Moody’s cuts Danish bank ratings
Credit rating agency Moody’s last night downgraded the ratings for nine Danish financial institutions including Danske Bank, Danske’s Finnish subsidiary Sampo Bank, Jyske Bank, Sydbank, Spar Nord Bank and Ringkjobing Landbobank. Moody’s said the downgrade reflected “the risk that some institutions’ concentrated loan books deteriorate amidst difficult domestic and European conditions, with adverse consequences on their ability to refinance maturing debt.”