Fitch downgrades French bank rating outlook

Fitch Ratings agency said Tuesday it was downgrading the credit outlook on four French banks, including Societe Generale, to negative and putting seven Italian and eight Spanish lenders on watch. Fitch said it revised the stable outlook to negative on Societe Generale, Groupe BPCE, Dexia Credit Local and La Banque Postale, in line with its downgrade of France's sovereign rating outlook to negative last week.