Moody's downgrades JPM, BofA and Wells Fargo after US credit rating cut
It also downgraded the long-term deposit ratings of BofA, JPMorgan and Wells Fargo to Aa2 from Aa1 and cut the long-term counterparty risk ratings of certain rated subsidiaries and branches of BNY and State Street to Aa2 from Aa1. The sovereign credit rating cut on Friday sent ripples through global markets and came on a day when U.S. President Donald Trump's tax bill failed to clear a key procedural hurdle, as hardline Republicans sought deeper spending cuts. It won approval from a key congressional committee on Sunday in a rare victory for Trump and House Speaker Mike Johnson.
Reuters
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25 minutes ago
