The number of global banks whose ratings were downgraded rose in the fourth quarter to 36 from 28 in the previous three-month period, according to Fitch Ratings. Fitch said half of the downgrades were due to ongoing concerns over sovereign debt in “developed peripheral Europe,” while most of the 25 upgrades were in banks domiciled in emerging Eastern Europe. The number of banks placed on rating watch negative nearly doubled during the fourth quarter, said Fitch.
