Fitch Lowers Rating On 4 European Banks

Fitch Ratings downgraded 4 European banks. Fitch lowered its rating on Landesbank Berlin Holding AG from double A-minus to A-plus. Fitch also lowered its rating on Lloyds Banking Group PLC LYG from double A-minus to A. It also downgraded Royal Bank of Scotland Group PLC RBS from double A-minus to A and UBS AG UBS from A-plus to A. LYG shares dropped 5.75% to close at $2.13 yesterday, while RBS shares dipped 6.08% to close at $7.73 yesterday. UBS shares dropped 1.63% to $12.07 in after-hours trading.