Moody’s Cuts Credit Ratings Of 15 Big Banks

Moody’s Investors Service has lowered the ratings of some of the world’s largest banks, including Bank of America, JPMorgan Chase, Citigroup and Goldman Sachs.
By Diane Sweet — June 21, 2012

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Moody’s Investors Service has lowered the ratings of some of the world’s largest banks, including Bank of America, JPMorgan Chase, Citigroup and Goldman Sachs.

The ratings agency said late Thursday that the banks were downgraded because their long-term prospects for profitability and growth are shrinking.

[Via]

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