Moody’s Cuts Credit Ratings of 15 Big Banks – NYTimes.com

Moody’s Cuts Credit Ratings of 15 Big Banks – NYTimes.com.

nader nazemi

Moody’s Credit Rating Agency

Moody’s Credit Rating Agency

This certainly is a devastating blow to these banks. But then again the credibility of these credit ratings are as good as their ratings prior to the Great Recession – 2007.

After putting banks on watch four months ago, Moody’s Investors Service on Thursday slashed the credit ratings of 15 large financial firms, in a move that could do lasting damage to their bottom lines and unsettle the markets.

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