S&P Downgraded Spain. Fitch Downgraded UBS and 7 More Banks

Standard and Poor's downgraded the rating of Spain to 'AA-' keeping the negative outlook.
Fitch downgraded the big Swiss bank UBS to 'A' and placed seven other banks on Negative Watch: Deutsche Bank AG, BNP Paribas, Societe Generale, Barclays Bank Plc., Bank of America Corp., Morgan Stanley, and Goldman Sachs.