The Media Said Moodie Would Lower The Ratings Of France'S Three Largest Banks.

People familiar with the matter said France The credit rating of the three biggest banks is likely to be lowered by Moodie, which further aggravates the tension in the financing market.

Paris bank, Societe Generale and Credit Agricole of France are expected to face a downgrade decision by Moodie rating agencies immediately, digital sources said on Saturday.

Moodie had placed the three banks in the down watch list in June 15th because of the large exposure of these French banks to Greek sovereign debt. External commentators also say that the timing of the bank's downgrades is ripe due to the rising cost of borrowing triggered by the European sovereign debt crisis.

According to the bank for International Settlements, the French banking industry is right. Greece Exposure is the largest. As part of the new aid package to Greece, French banks have begun to write down their holdings of Greek sovereign debt, but some say their writedowns are not enough.

France's three largest banks and Moodie declined to comment.