Fri, 22 Jun 2012 06:38:06 GMT
Moody's downgraded 15 main banks
Moody's cut ratings of 15 major banks, including Royal Bank of Scotland, Barclays, HSBC, Citigroup, Bank of America, Goldman Sachs and JP Morgan. Experts say that downgrades were expected and financial institutions were concerned that it would make it more difficult for banks to borrow funds commercially. Moody's attributed its decision to high banks' exposure to volatility and risk of