Moody's downgrades JPMorgan, Bank of America and Wells Fargo after U.S. credit downgrade
路透中文2025-05-20
After the U.S. credit rating was downgraded,<a href="https://laohu8.com/S/MCO">Moody's</a>reduce<a href="https://laohu8.com/S/JPM">JPMorgan Chase</a>、<a href="https://laohu8.com/S/BAC">Bank of America</a>And<a href="https://laohu8.com/S/WFC">Wells Fargo</a>RatingReutersMay 19-Moody's downgraded JPMorgan on MondayJPM.N.Bank of AmericaBAC.NAnd Wells FargoWFC.NAnd other long-term ratings from America's top lenders, pushing the United States out of the top Triple-A rating club because of its huge $36 trillion debt.
Ratings agencies also downgraded long-term deposits at Bank of America, JPMorgan Chase and Wells Fargo to Aa2 from Aa1 and NYCBBK.N.AndState StreetSecuritiesSTT.NThe long-term counterparty risk rating of certain of the rated subsidiaries and branches was downgraded from Aa1 to Aa2.
Friday's sovereign credit rating downgrade (link), causing ripples in the global market. On the same day, President Donald Trump's tax bill failed to pass a key procedural hurdle as hard-line Republicans sought deeper spending cuts.
On Sunday, the bill was approved by a key congressional committee (link), a rare victory for Trump and House Speaker Mike Johnson.
Moody's said in a note that the U.S. downgrade indicates the country's declining ability to support the highly rated debt of these banks.
(For the convenience of non-native English speakers, Reuters automatically translates its reports into several other languages. Reuters does not guarantee the accuracy of the automated translated text because the automated translation may be incorrect or fail to include the required context, and provides automated translation only for the convenience of readers. Reuters accepts no responsibility for any damage or loss caused by the use of the automated translation function.)
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
