Moody’s downgrades 10 US banks, warns of possible cuts to others
August 8, 2023 No Comments
“Many banks’ Q2 results showed growing profitability pressures that will reduce their ability to generate internal capital,” Moody’s wrote in a note.
“This comes as a mild recession looms,” and banks contend with greater risks from interest rates and managing their assets and liabilities, the ratings agency said.
