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Moody’s to downgrade big U.S. banks
Credit rating company Moody’s has signaled that it will likely soon downgrade the debt of big U.S. banks. Big diversified banks like Bank of America, Citigroup, Wells Fargo and JPMorgan Chase will likely be affected. Investment banking-heavy Goldman Sachs and Morgan Stanley may be even more affected. Forbes notes that the ratings will likely dip from the A range to the Baa range, broadly speaking. The main issues continue to be economic and market uncertainty in Europe. Article
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