Wed, 30 Nov 2011 08:43:29 GMT
S&P cuts ratings on 15 banks, 20 other left unchanged
On Tuesday Standard & Poor's Ratings
Services downgraded ratings of 15 international banks. The downgrade takes
place amid new rating methodology implementation. New system incorporates into
banks' ratings the degree of government provision. So far, new criteria have
affected 37 banks. Among firms that experienced immediate cut were four major
US banks: Bank of America Corp., Citigroup Inc., Wells Fargo & Co. and J.P.
Morgan Chase