S&P Lowers Ratings On Four Banks With Big Oil Loan Exposure

Four regional banks had their ratings cut by Standard & Poor's late Tuesday on their exposure to loans in the energy sector amid falling oil prices. S&P lowered ratings by one notch on BOK Financial Corp. to "BBB+", Comerica Inc. to "BBB+", Cullen/Frost Bankers Inc. to "A-", and Texas Capital Bancshares Inc. to "BB+". "We are in the early innings of the downturn, in our view, and we expect loan losses to rise over the next two years, even if energy prices rebound modestly from current levels," S&P said in a release.