Latest News:  
Beijing   Sunny    27 / 11   City Forecast

Home>>World

Moody's cut debt ratings of major U.S. banks

(Xinhua)

08:39, September 22, 2011

NEW YORK, Sept. 21 (Xinhua) -- The rating agency Moody's on Wednesday cut the debt ratings of Bank of America Corp, Wells Fargo & Co and Citigroup Inc, due to concerns about the government' s willingness to support large lenders.

The rating agency said that the government is more likely to give up big financial institutions if they get into trouble than during the financial crisis.

Moody's downgraded Bank of America's long-term senior debt rating to Baa1 from A2 and its short-term debt rating to Prime 2 from Prime 1.

Moody's also cut Wells Fargo's long-term debt to A1 from Aa3 and Citigroup's short-term debt from Prime 1 to Prime 2. The rating agency gave a negative outlook to all three banks.

The action concluded the rating agency's move three months ago when it placed the three U.S. biggest banks' debt ratings under review for a potential downgrade.

Email|Print|Comments(Editor:张茜)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Largest Apple store in Chinese mainland to open

  2. 7 killed, 24 injured in Tibet as India quake affects China

  3. Preparation underway for launch of Tiangong-1

  4. Chinese National Day Reception held in Paris

Most Popular

Opinions

  1. Obama's economic warfare against Republicans
  2. Hope from China's super hybrid rice
  3. U.S. can learn from China's anti-terrorism wisdom
  4. Six-party talks should be resumed unconditionally
  5. Too many officials perch above the people
  6. 8-seat van loaded with 64 school kids!
  7. Africa's children need help
  8. Expert: EU needs self-reliance and innovation
  9. Exploring joint development amid globalization
  10. What does American Dream mean for China?

What's happening in China

Programs to target domestic violence

  1. Citywide checks after polio outbreak in Xinjiang
  2. Highest flood peak passes Chongqing
  3. Microblogs seek to stop rumors
  4. Earliest fall since '86? Time will tell
  5. Disguised offices lobby for funding and privileges

PD Online Data

  1. Challenge to the traditional view of love and marriage
  2. House means happiness? Young Chinese' home-owning dream
  3. Fighting AIDS,China is acting
  4. Worldwide Confusius Institutes
  5. Chinese Qingming Festival