Posts
Fitch Ratings has been canned by Banco Espírito Santo, one of Portugal's biggest banks, after BES's credit rating was downgraded from A to BBB+.
The bank insists that Fitch's downgrade did "not reflect the financial soundness of the bank".
It was BES's second downgrade since July. The bank claims that there was "no valid justification for a three-notches downgrade in less than four months"
