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Old 04.07.2012, 10:38
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S&P Downgrades Outlook for Swiss Kantonal Banks due to Rising Real Estate Prices.

S&P have downgraded their outlook for most of the Kantonal Banks of Switzerland due to rising real estate prices over the last 3 years and the risks associated with it.

'Rationale:
The outlook revision stems from our view that the residential real estate price increases we have observed in Switzerland over the past three years represent a risk for those Swiss banks that have mainly domestic operations. If this trend continues, the growing economic imbalance may lead us to a more negative view of the economic environment in which Swiss banks operate and to lower our ratings by one notch (see "Outlook On Nine Swiss Banks To Negative On Exposure To Rising Property Prices; Ratings On All Swiss Banks Affirmed," published on July 3, 2012).'


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