Standard and Poor's Ratings Service downgraded three European banks based on increased risk on Tuesday, the firm said in a statement
The ratings firm lowered credit ratings to 'A' from 'A+' for Barclays PLC , Credit Suisse AG and Deutsche Banks AG , citing larger regulatory initiatives and uncertain market conditions making the operating in the industry difficult
The tightening of regulation on capital market activity for banks will lead to declines in bank revenues, said Standard and Poor's, owned by McGraw-Hill Financial
The outlook for these banks was stable, said the firm
UBS AG's 'A/A-1' credit rating was affirmed by Standard and Poor's
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