Bank upgrades expected as Moody's revises methodology

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Global banks' credit ratings are expected to benefit from widespread upgrades from early 2007 as Moody's revises its ratings methodology for financials.

The rating agency is altering its rules to incorporate the external support banks can expect in the event of financial difficulties. This might include the help of a parent bank, another member of a banking group, or, most likely, regulatory action to prevent a bank from defaulting.

"Banks do collapse - but they very rarely default: systemic s

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