Ten Western European banking groups have been downgraded by Fitch Ratings agency amid the coronavirus outbreak.
, Gruppo Bancario Iccrea in Italy and Credit Europe Bank in the Netherlands and banking groups in Cyprus, Spain and Luxembourg.
They also include banks already vulnerable, for example because of weak profitability, or a weaker competitive position. The revisions come amid the coronavirus pandemic that has shutdown the majority of Europe's economy as the region struggles to contain the virus that has now infected hundreds of thousands of people.
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