CJOB's Robert Holland reporting
Moody's Investors Service has cut the credit ratings of some of the world's largest banks, including the Royal Bank
of Canada. But, John McCallum, an economics professor at the University of Manitoba, told CJOB He's not worried.
McCallum says as capital market conditions change Moody's raises or lower credit ratings..
The ratings agency says the banks were downgraded because their long-term prospects for profitability and growth are shrinking.