Fitch downgraded six large banks

Fitch downgraded six global banks on the growing tensions in the financial markets. The downgraded banks are the Bank of America, Goldman Sachs, Barclays, BNP Paribas, Deutsche Bank and Credit Suisse. The so called вЂ?default ratings of the issuer', which imply the ability of the entity to comply with its financial obligations timely, were cut. The banks hold large amount of euro-zone's debt and the concerns over their interbank lending increased, added Fitch.