Fitch warns on French bank ratings

Ratings agency Fitch warned on Thursday that France's banks could see their credit worthiness downgraded because of fears over their exposure to eurozone members' risky sovereign debt. The entire eurozone is under pressure over the debt crisis in its weaker members, but French lenders are seen as particularly overexposed to massive debts in Greece, Spain and Italy.
Shares in French giants like BNP Paribas, Societe Generale and Credit Agricole have see-sawed wildly in recent weeks, as traders have alternated between fear of default and hope for an EU rescue package. "Concerns about French banks are mostly centred on their exposure to southern European countries," Fitch said in a statement.