Moody's responds to fears of telecom-driven &quotbanking crisis&quot

Wednesday 20 December 2000 at 16:00

Moody's Investors Service, the rating agency, has played down fears that Europe's banking industry is over-exposed to the telecommunications sector.

Analysts at Moody's said on Wednesday that while lending by banks to telecom companies is a &quotcredit concern&quot, it should not lead to a banking crisis.