15 downgrades total
1 firm (Credit Suisse) lowered by 3 notches to A2 from Aa2, outlook stable
10 firms lowered by 2
4 firms lowered 1 notch
Morgan Stanley 2 notches to Baa1 (there was talk of 3 notches)
Citigroup lowered to Baa2, outlook negative
UBS lowered 2 notches, there was talk of 3
RBS lowered 1 notch to Baa1, outlook negative
Goldman to 2 notches to A3 from A1
HSBC 1 notch to AA2
Barclays 2 notches to A3
BNP Paribas 2 notches to AA3
Credit Agricole 2 notches to AA3
RBC to two notches to Aa3
Soc Gen 1 notch to A2
Deutsche Bank 2 notches to A2
Fortis, Lloyds and Bank of America the others.
No bank was lowered more than Moody’s outlined in Feb, when it foreshadowed the moves
1 firm (Credit Suisse) lowered by 3 notches to A2 from Aa2, outlook stable
10 firms lowered by 2
4 firms lowered 1 notch
Morgan Stanley 2 notches to Baa1 (there was talk of 3 notches)
Citigroup lowered to Baa2, outlook negative
UBS lowered 2 notches, there was talk of 3
RBS lowered 1 notch to Baa1, outlook negative
Goldman to 2 notches to A3 from A1
HSBC 1 notch to AA2
Barclays 2 notches to A3
BNP Paribas 2 notches to AA3
Credit Agricole 2 notches to AA3
RBC to two notches to Aa3
Soc Gen 1 notch to A2
Deutsche Bank 2 notches to A2
Fortis, Lloyds and Bank of America the others.
No bank was lowered more than Moody’s outlined in Feb, when it foreshadowed the moves