YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Moody's has cut the credit ratings of big U.S. banks including Morgan Stanley, Goldman Sachs and JPMorgan Chase, after deciding that the federal government is less likely to bail the financial institutions out if they get into future difficulties, according to CNBC.
Goldman ratings on long-term senior unsecured debt dropped to Baa1, Morgan Stanley decreased to Baa2 and JPMorgan fell to A3, the article said.
The agency also cut the three banks' subordinated debt ratings by one notch.
Read more from CNBC.
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