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Chain Reaction After US Sovereign Downgrade: Moody's Downgrades Major US Banks' Deposit Ratings to Aa2
Moody's downgrade of the US sovereign rating sparked a chain reaction. On Monday, Moody's downgraded the deposit ratings of major US banks, including Bank of America (BAC.U...
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Chain Reaction After US Sovereign Downgrade: Moody's Downgrades Major US Banks' Deposit Ratings to Aa2
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Moody's downgrade of the US sovereign rating sparked a chain reaction. On Monday, Moody's downgraded the deposit ratings of major US banks, including Bank of America (BAC.US)      and JPMorgan (JPM.US)      , citing the downgrade of the US government rating as an indication of reduced ability to support high-rated debt.

The long-term deposit ratings of subsidiaries of Bank of America, JPMorgan, and Wells Fargo (WFC.US)      were all downgraded by one notch to Aa2, which is Moody's third-highest rating.

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Additionally, Moody's downgraded the senior unsecured debt ratings of certain subsidiaries of Bank of America and BNY Mellon (BK.US)      from Aa1 to Aa2.
(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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