Published: Thursday, 21 Jun 2012 | 5:54 PM ET
Moody’s Investors Service downgraded the debt ratings of 15 major international banks and securities firms on Thursday, a move that could cost the banks billions of dollars in extra collateral.
U.S banks that were downgraded included:
Bank of America [BAC 7.82 -0.32 (-3.93%) ],whose long-term debt rating was cut one notch, to BAA2 from BAA1,
Citigroup [C 27.83 -1.03 (-3.57%) ], which was cut two notches, to BAA2 from A3,
Goldman Sachs [GS 93.90 -2.65 (-2.74%) ], cut by two notches, to A3 from A1,
JPMorgan [JPM 35.51 -0.94 (-2.58%) ], cut by two notches, to AA3 from A2
and Morgan Stanley [MS 13.96 -0.24 (-1.69%) ], also cut by two notches, to BAA1 from A2.
Courtesy of http://www.cnbc.com/id/47908669