Moody changes outlook on Germany's banks to stable

FXstreet.com (Barcelona) - Moody's credit rating agency announced on Friday morning its decision to upgrade the outlook on the German banking sector from negative to stable.

According to the official release: "The outlook change reflects that, following a year of reduced crisis-related losses and improved capital strength, German banks are now more able to withstand shocks."

The agency stated that economic conditions in Germany are expected to remain favorable and supportive for the country's financial institutions.