Moody's considers downgrading U.S. banks

Moody’s considers downgrading U.S. banks

Moody’s may cut the credit ratings of major U.S. bank holding companies, including JPMorgan Chase & Co. and Goldman Sachs Group Inc., reports Reuters.

By Staff | August 23, 2013 | Last updated on August 23, 2013

1 min read

Moody’s may cut the credit ratings of major U.S. bank holding companies, including JPMorgan Chase & Co. and Goldman Sachs Group Inc., reports Reuters.

The agency’s reasoning is there’s less chance the government will fully bail out bond investors if the companies run into financial distress.

Read: S&P downgrades Berkshire Hathaway

“The announcement shows that regulators are making progress toward convincing financial markets that big banks may not be too big to fail,” says Reuters.

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