Ratings agency Moody’s downgrades 15 banks, some by two notches

From Yahoo News.

Excerpt:

Ratings agency Moody’s downgraded many of the world’s biggest banks on Thursday, lowering credit ratings of 15 companies by one to three notches.

Morgan Stanley, one of the most closely watched firms, had its long-term debt rating lowered by just two notches, one level less than had been expected, and its stock rose in after-hours trading. The downgrade left Morgan Stanley more highly rated than Bank of America Corp and Citigroup but a step below Goldman Sachs Group.

Credit Suisse , which last week was warned about weak capital levels by Switzerland’s central bank, was the only bank in the group to suffer a three-notch downgrade. But its new A1 deposit and senior debt ratings, however, rank higher than many of its peers.

[…]In addition to Morgan Stanley, downgraded by two notches were Barclays , BNP Paribas , Royal Bank of Canada , Citigroup, Goldman Sachs Group, JPMorgan Chase , Credit Agricole , Deutsche Bank , and UBS .

Falling one notch were Bank of America, HSBC Holdings , Royal Bank of Scotland and Societe Generale.

Nomura and Macquarie were included in an original list of global banks, but have already been downgraded.

I don’t think that the Obama administration should be so concentrated on legalizing gay marriage and subsidizing green energy right now. I also think that if you are going off to college, you would do well to study a STEM field. There’s a storm coming.

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