- Apr 16, 2011
- 570
- 515
Code:
http://blogs.wsj.com/marketbeat/2011/11/29/sp-downgrades-bank-of-america-morgan-stanley/
Not totally unexpected, but still a huge deal.
BofA, Citigroup, Morgan Stanley, Goldman Sachs, Wells Fargo, J.P. Morgan, Bank of New York Mellon were hit.
The Bank of China got cut to A from A-. Industrial and Commercial Bank of China was left alone.
They also hit several UK banks ? Barclays, HSBC, Lloyds, RBS.
Notably, they left alone several European banks ? Deutsche Bank, Credit Suisse, ING, BNP Paribas, Credit Agricole, Societe Generale, Commerzbank.
They cut UBS, however, to A from A+.
All of the downgrades were one notch, as near as I can tell.
Bank of America, Citi, Goldman Sachs and Morgan Stanley got cut to A- from A.
Barclays and J.P. Morgan were cut to A from A+.
Wells Fargo, BNY Mellon and HSBC were cut to A+ from AA-.