Fitch puts Credit Suisse on watch

Fitch Ratings said it placed Credit Suisse's AA- long-term issuer default rating on Rating Watch negative and downgraded the individual rating to B/C from B.

The agency affirmed the company's short-term issuer default rating at F1+, support 1 and support floor A-.

The action reflects concern over a worsening outlook for the bank's operating environment, with the fourth quarter having been particularly challenging for global and investment banks, according to the agency.

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