NEW YORK CITY-Moody’s Investors Service is pushing back its timetable in evaluating a potential downgrade for hundreds of troubled European banks, the global ratings agency confirms to GlobeSt.com. After originally being announced in January, the next rating action is expected to place in early May, which could affect 114 financial institutions across 16 European countries.

In a statement released on April 13, Moody’s says it is taking an “appropriately deliberate approach” during the review process and will conclude when it is “confident” that all relevant information has been received and analyzed. A final review is expected to be completed by end of June.

The action—if taken—reflects the combined pressures from the adverse and prolonged impact of the Euro area crisis; the deteriorating creditworthiness of euro area sovereigns; and the substantial challenges faced by banks and securities firms with significant capital market activities, says Moody’s. As a result, some of the region’s biggest banks could take billions in losses, including Frankfurt-based Deutsche Bank, the Royal Bank of Scotland, UK-based Lloyds, and Switzerland-based UBS and Credit Suisse.