Wed, 09 May 2012 08:47:34 GMT
Moody's prepares to downgrade banks
Moody's Investors Service is going to downgrade credit ratings of no less than 100 banks this month. This would raise their financing costs and force them to limit their lending. UBS AG, Credit Suisse Group AG and Morgan Stanley could be downgraded by three levels on their long term debt. JPMorgan Chase, Goldman Sachs and HSBC Holdings by two levels. Bank of