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S&P Cuts Credit Ratings on Several Large Banks
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S&P Cuts Credit Ratings on Several Large Banks

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S&P Cuts Credit Ratings on Several Large Banks

Standard & Poor's cut its credit ratings on several large banks as part of its review of the way that it calculates the ratings.
The downgrades on Tuesday included five large banks: Bank of America (NYSE: BAC - News), Citigroup (NYSE:C - News), Goldman Sachs (NYSE: GS - News), Morgan Stanley (NYSE: MS - News) and Wells Fargo (NYSE: WFC - News).
S&P said it reviewed its ratings on 37 financial institutions.
The ratings agency will host two teleconferences to discuss its new ratings criteria for banks, which were published on Nov. 9, and the related ratings actions.


S&P Cuts Credit Ratings on Several Large Banks - Yahoo! Finance

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