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Wednesday, June 13, 2012

Several major U.S. banks, including J.P. Morgan Chase, Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc., and Morgan Stanley, are preparing for the possibility of a downgrade


"Several major U.S. banks, including J.P. Morgan Chase, Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc., and Morgan Stanley, are preparing for the possibility of a downgrade by Moody’s Investment Service that could come by the end of this week, the Wall Street Journal reports."
Moody’s Blues: Major U.S. Banks Prepare For Possible Downgrades | TheBlaze.com
Bloomberg is predicting a two-notch downgrade for Bank of America and Citibank to one level above "junk" status.
"Bank of America, Citigroup, Goldman, Morgan Stanley and a fifth U.S. bank facing a Moody's rating cut, J.P. Morgan Chase JPM +2.81%& Co., could together face $22 billion in additional costs if the New York rating company downgrades them as much as it has said it might. That is one notch at Bank of America, two at Citigroup, Goldman and J.P. Morgan, and three at Morgan Stanley."
Moody's Hears It From Banks on Potential Downgrades - WSJ.com

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