Moody's

Rating agency Moody's is preparing to downgrade several UK banks this evening, including RBS, Barclays and HSBC, according to reports.

ON BONDS

Investors have suggested the eurozone crisis has not yet reached another critical stage, despite a €100bn bailout of Spanish banks failing to prevent the country's borrowing costs reaching record highs.

Moody's has downgraded the credit ratings of five of the Netherlands' largest banks as the country's economy struggles with a domestic recession and the effects of the eurozone crisis.

Moody's has downgraded Spain's credit rating by three notches to Baa3 from A3, just above junk status, and placed it on review for further possible downgrades.

David Cameron has reassured British savers worried by the a raft of downgrades of Spanish banks, describing British banks as well regulated and well capitalised.

France's AAA credit rating is safe, according to ratings agency Fitch, which has reassured market the election of Socialist President Francois Hollande has no implications for the country's credit rating.

Moody's has downgraded Tesco's debt rating after warning it will "take time to revive profit growth" at the UK's largest supermarket.

The UK's prized AAA credit rating has been put on "negative outlook" by Fitch, the second ratings agency to warn of a possible economic downgrade.

Credit rating agency Moody's has placed Santander UK's long term debt and deposit ratings under review following the announcement last week that its parent may be downgraded.