Credit ratings cut by one level for eight US banks
Fed put companies on negative credit watch one month ago
JPMorgan Chase, Bank of America and Citigroup are among eight large US banks that had credit grades cut one level by Standard & Poor’s on the prospect that the US government is less likely to provide aid in a crisis.
Wells Fargo, Bank of New York Mellon and State Street had their long-term issuer credit ratings cut to A from A+.
JPMorgan’s was lowered to A- from A. Citigroup, Bank of America, Goldman ...
