Moody’s Puts Six US Banks on Watch for Potential Downgrade
New York (CNN)-Moody’s Investors Service placed six banks on review for potential downgrades late Monday, in the wake of last week’s collapse of Silicon Valley Bank.
The credit rating firm also downgraded Signature Bank deep into junk territory following that bank’s failure.
Moody’s warned it could similarly downgrade First Republic Bank (FRC), Zions (ZION), Western Alliance (WAL), Comerica (CMA), UMB Financial (UMBF) and Intrust Financial. The firm cited the “extremely volatile funding conditions for some US banks exposed to the risk of uninsured deposit outflows.”
Moody's puts six US banks on watch for potential downgrade | CNN Business
New York (CNN)-Moody’s Investors Service placed six banks on review for potential downgrades late Monday, in the wake of last week’s collapse of Silicon Valley Bank.
The credit rating firm also downgraded Signature Bank deep into junk territory following that bank’s failure.
Moody’s warned it could similarly downgrade First Republic Bank (FRC), Zions (ZION), Western Alliance (WAL), Comerica (CMA), UMB Financial (UMBF) and Intrust Financial. The firm cited the “extremely volatile funding conditions for some US banks exposed to the risk of uninsured deposit outflows.”
Moody's puts six US banks on watch for potential downgrade | CNN Business
