Thursday, September 22, 2011

Moody's cuts three US bank ratings

INTERNATIONAL. Moody's chopped its credit ratings for three of the top US banks -- Bank of America, Wells Fargo and Citigroup -- saying it saw the US government less willing than before to rescue them if they become unstable.Moody's said it believed that the US commitment to save "systemically important" banks had diminished since the 2008-2009 crisis when the government extended hundreds of billions of dollars to financial institutions to keep the banking system from collapse.

No comments:

Post a Comment