Full Text: Moody's Cuts Global Bank Credit Ratings
Here is a breakdown of ratings moves Moody's Investors Service made after the close of trading on Thursday.
OVERVIEW OF TODAY'S RATING ACTIONS
Moody's has taken action on the following holding company ratings:
Bank of America Corporation
Long-term senior unsecured debt to Baa2 from Baa1, outlook negative; Short-term P-2 affirmed
Barclays plc
Long-term issuer rating to A3 from A1, outlook negative; Short-term to P-2 from P-1
Citigroup Inc.
Long-term senior debt to Baa2 from A3, outlook negative; short-term P-2 affirmed
Credit Suisse Group AG
Provisional senior debt to (P)A2 from (P)Aa2, outlook stable; Provisional Short-term (P)P-1 affirmed
The Goldman Sachs Group, Inc.
Long-term senior unsecured debt to A3 from A1, outlook negative; Short-term to P-2 from P-1
HSBC Holdings plc
Long-term senior debt to Aa3 from Aa2, outlook negative; Provisional Short-term (P)P-1 affirmed
JPMorgan Chase & Co.
Long-term senior debt to A2 from Aa3, outlook negative; Short-term P-1 affirmed
Morgan Stanley
Long-term senior unsecured debt to Baa1 from A2; outlook negative; Short-term to P-2 from P-1
Royal Bank of Scotland Group plc
Long-term senior debt to Baa1 from A3, outlook negative; Short-term P-2 affirmed.
Moody's has taken action on the following operating company ratings:
Bank of America, N.A.
Long-term deposit rating to A3 from A2, outlook stable; Short-term to P-2 from P-1
Barclays Bank plc
Long-term issuer rating to A2 from Aa3, outlook negative; Short-term P-1 affirmed
BNP Paribas
Long-term debt and deposit rating to A2 from Aa3; outlook stable; Short-term P-1 affirmed
Citibank, N.A.
Long-term deposit rating to A3 from A1, outlook stable; Short-term to P-2 from P-1
Credit Agricole S.A.
Long-term debt and deposit rating to A2 from Aa3, outlook negative; Short-term P-1 affirmed
Credit Suisse AG
Long-term deposit and senior debt rating to A1 from Aa1, outlook stable; Short-term P-1 affirmed
Deutsche Bank AG
Long-term deposit rating to A2 from Aa3, outlook stable; Short-term P-1 affirmed
Goldman Sachs Bank USA
Long-term deposit rating to A2 from Aa3, outlook stable; Short-term P-1 affirmed
HSBC Bank plc
Long-term deposit rating to Aa3 from Aa2, outlook negative; Short-term P-1 affirmed
JPMorgan Chase Bank, N.A.
Long-term deposit rating to Aa3 from Aa1, outlook stable; Short-term P-1 affirmed
Morgan Stanley Bank, N.A.
Long-term deposit rating to A3 from A1, outlook stable; Short-term to P-2 from P-1
Royal Bank of Canada
Long-term deposit rating to Aa3 from Aa1, outlook stable; Short-term P-1 affirmed
Royal Bank of Scotland plc
Long-term deposit rating to A3 from A2; outlook negative; Short-term to P-2 from P-1
Societe Generale
Long-term debt and deposit to A2 from A1; outlook stable; Short-term P-1 affirmed
UBS AG
Long-term debt and deposit to A2 from Aa3, outlook stable; Short-term P-1 confirmed.