Moody's cuts ratings of five Portuguese banks

SAN FRANCISCO (MarketWatch)
Moody's Investors Service on Wednesday lowered ratings on five Portuguese banks due to expectations of a further decline in the banks' asset quality and profitability
The ratings agency downgraded Caixa Geral de Depositos, Banco Comercial Portugues, Banco Espirito Santo, Banco BPI, and Banco Santander Totta
Moody's also confirmed ratings on Banco Comercial Portugues and Caixa Economica Montepio Geral