{"id":46249,"date":"2023-08-09T07:04:36","date_gmt":"2023-08-09T11:04:36","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/moodys-places-credit-ratings-of-6-major-u-s-banks-on-review-for-downgrade\/"},"modified":"2023-08-09T07:04:38","modified_gmt":"2023-08-09T11:04:38","slug":"moodys-places-credit-ratings-of-6-major-u-s-banks-on-review-for-downgrade","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=46249","title":{"rendered":"Moody\u2019s places credit ratings of 6 major U.S. banks on review for downgrade"},"content":{"rendered":"
\n

Moody\u2019s Investors Service may downgrade its credit ratings on six major U.S. banks, including U.S. Bancorp, State Street Corp., and Bank of New York Mellon Corp., and has downgraded its debt ratings on several small and mid-sized banks as part of the credit ratings agency\u2019s rash of rating actions on U.S. banks late Monday.<\/p>\n

The U.S. banking industry, rattled in March by the collapse of Silicon Valley Bank and others, \u201ccontinue to contend with interest rate and [asset and liability management] risks with implications for liquidity and capital,\u201d the credit ratings agency said. <\/p>\n

\n

In addition to U.S. Bancorp
\n USB,
\n +0.27%<\/bg-quote>,<\/span>
\n State Street
\n STT,
\n -1.58%<\/bg-quote>
\n and Bank of New York Mellon
\n BK,
\n -1.32%<\/bg-quote>,<\/span>
\n also on review for downgrade were Northern Trust Corp.
\n NTRS,
\n -1.56%<\/bg-quote>,<\/span>
\n Cullen\/Frost Bankers Inc.
\n CFR,
\n -2.82%<\/bg-quote>,<\/span>
\n and Truist Financial
\n TFC,
\n -0.58%<\/bg-quote>.<\/span>\n <\/p>\n

\u201cMany banks\u2019 Q2 results showed growing profitability pressures that will reduce their ability to generate internal capital\u201d as a \u201cmild recession looms and asset quality looks set to decline\u201d particularly in some banks\u2019 commercial real-estate portfolio, Moody\u2019s said. <\/p>\n

See also: <\/strong>Opinion: How much pain could commercial real estate heap on U.S. banks and the economy? A lot.<\/p>\n

\u201cAsset risk is rising, in particular for small and mid-size banks with large CRE exposures,\u201d it said. <\/p>\n

Among the smaller banks that had their credit rating downgraded were Commerce Bancshares Inc.
\n CBSH,
\n -0.86%<\/bg-quote>
\n and BOK Financial Corp
\n BOKF,
\n -1.93%<\/bg-quote>.<\/span>\n <\/p>\n

Moody\u2019s also slapped negative outlooks on 11 lenders, including Ally Financial Inc.
\n ALLY,
\n +0.75%<\/bg-quote>
\n and Capital One Financial Corp.
\n COF,
\n -0.59%<\/bg-quote>.<\/span>\n <\/p>\n

Don\u2019t miss:<\/strong> JPMorgan CEO Jamie Dimon says U.S. should have the highest credit rating in the world<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Moody\u2019s Investors Service may downgrade its credit ratings on six major U.S. banks, including U.S. Bancorp, State Street Corp., and Bank of New York Mellon Corp., and has downgraded its debt ratings on several small and mid-sized banks as part of the credit ratings agency\u2019s rash of rating actions on U.S. banks late Monday. The […]<\/p>\n","protected":false},"author":1,"featured_media":46250,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-46249","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nMoody\u2019s places credit ratings of 6 major U.S. banks on review for downgrade | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Moody\u2019s Investors Service may downgrade its credit ratings on six major U.S. banks, including U.S. Bancorp, State Street Corp., and Bank of New York\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=46249\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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