As part of a comprehensive evaluation of growing industry challenges, Moody’s Investors Service has downgraded credit ratings for 10 small and midsize US banks.
Additionally, there is a possibility of further downgrades including major lenders such as U.S. Bancorp, Bank of New York Mellon Corp., State Street Corp., and Truist Financial Corp.
Higher funding costs, potential regulatory capital weaknesses and rising risks tied to commercial real estate loans amid weakening demand for office space are among strains prompting the review, Moody’s said in a spree of notes late Monday.
The banking crisis is in full swing, yet someone only noticed just now