epa03018640 (FILE) A file photo dated 13 July 2011 of the sign outside the New York offices of Moody's Corporation in New York, New York, USA. Moody's, a leading international ratings agency on 29 November 2011 threatened to downgrade the subordinated debt ratings of 87 European banks in 15 countries, including key lenders in France, Italy and Spain. US ratings agency Moody's said in a statement that the move would be in response to the potential removal of government support from the institutions concerned. It said that 87 banks in 15 countries were placed on review for a downgrade, the ratings company said in a statement. The subordinated debt may be cut on average by two levels, with the rest lowered by one grade. EPA/ANDREW GOMBERT *** Local Caption *** 00000402822243