A major U.S. credit agency cut the ratings of multiple banks following a string of credit rating cuts due to factors like higher interest rates, according to an announcement from S&P Global.
S&P Global, one of the three major U.S. credit agencies, revised its ratings down for five regional U.S. banks after reviewing their risks related to funding, liquidity and asset quality, according to a S&P Global announcement. Moody’s, another top credit agency cut its ratings for ten U.S. banks earlier this month, according to Reuters.
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