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LONDON (MarketWatch) -- Deutsche Bank on Friday downgraded BNP Paribas SA to hold from buy, saying it expects a recession in Europe over the next 12 months and that the banking sector is likely to suffer from rising competition for funding as well as deleveraging. "We also think the consensus forecast of falling bad debts for the sector in 2012 will be proved wrong," the broker warned.
LONDON (MarketWatch) -- Goldman Sachs on Tuesday cut its forecast for global growth in 2012 and said it now expects the euro zone to sink into a "mild" recession.
SYDNEY (MarketWatch) -- Standard & Poor's said late Thursday that it has lowered its long-term rating on Spain's sovereign credit to AA- from AA. The firm said that the outlook for Spain is negative. "Despite signs of resilience in economic performance during 2011, we see heightened risks to Spain's growth prospects due to high unemployment, tighter financial conditions, the still-high level of private sector debt, and the likely economic slowdown in Spain's main trading partners," S&P said.