Massive bank downgrad

Ratings agency Moody's downgraded the long-term credit ratings of 15 major U.S., Canadian, and European banks today after markets in New York closed

Read more: http://www.businessinsider.com/downgrade-watch-five-us-banks-will-be-hit-in-moodys-cuts-2012-6#ixzz1yWGQSG71
Below, a summary of the major ratings action taken.

Cut One Notch:

• HSBC downgraded to Aa3 from Aa2
• Lloyds TSB downgraded to A2 from A1
• RBS downgraded to Baa1 from A3
• Societe Generale downgraded to A2 from A1

Cut Two Notches:

• Bank of America downgraded to Baa2 from Baa1
• BNP Paribas downgraded to A2 from Aa3
• Barclays downgraded to A3 from A1
• Citigroup downgraded to Baa2 from A3
• Credit Agricole downgraded to to A2 from Aa3
• Goldman Sachs downgraded to A3 from A1
• JP Morgan Chase downgraded to A2 from Aa3
• Morgan Stanley downgraded to Baa1 from A2
• RBC downgraded to Aa3 from Aa1
• UBS downgraded to A2 from Aa3

Cut Three Notches:

• Credit Suisse downgraded to (P)A2 from (P)Aa2

In February, Moody's also placed Nomura and Macquarie credit ratings on watch for downgrade. However, the agency took action before today, lowering Nomura and Macquarie by one level each, to Baa3 and A2, respectively.

Read more: http://www.businessinsider.com/downgrade-watch-five-us-banks-will-be-hit-in-moodys-cuts-2012-6#ixzz1yWFR4zg0