Moody’s Downgrades Entire Banking System To ‘Negative’ In Latest Blow To Economy

  • Moody’s Investors Service, one of the three prime rating services, downgraded its rating of the entire banking system from stable to negative in response to the SVB banking crisis.
  • Moody’s, which predicted a coming recession, had warned it would downgrade Comerica, First Republic, Intrust Financial, UMB, Western Alliance, and Zions Bancorp after downgrading Signature Bank.
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