- Analytics
- News and Tools
- Market News
- S&P Global Ratings downgrades several US banks citing higher rates, deposit moves
S&P Global Ratings downgrades several US banks citing higher rates, deposit moves
Having witnessed a slew of credit rating downgrade from Moody’s amid early August, the S&P Global Ratings announced another shock to the US banks late Monday.
Bloomberg News conveyed the rating giant’s downgrading of the several US banks while highlighting the negative impacts of the higher rates and a decline in the deposits. In doing so, the S&P Global Ratings also cited a mix of pressures making life “tough” for lenders.
“S&P lowered grades one notch for KeyCorp, Comerica Inc., Valley National Bancorp, UMB Financial Corp. and Associated Banc-Corp,” said Bloomberg.
Market reaction
The news
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
