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Moody’s Downgrades: Impact of Each Bank's New Rating

June 25, 2012
[ by Melanie Gretchen ] Moody's Investors Service's downgrade last week hit the industry hard, despite a warning from the company in February that downgrades were imminent.  Here's a breakdown of each of the downgrades, minus a couple of banks whose stocks are not traded in U.S.  markets. Bank of America Corporation. Long-term senior unsecured debt to Baa2 from Baa1, outlook negative; Short-term P-2 affirmed; OPERATING COMPANY: Long-term deposit rating to A3 from A2, outlook stable; Short-term to P-2 from P-1. Barclays Plc. Long-term issuer rating to A3 from A1, outlook negative; Short-term to P-2 from P-1; OPERATING: Long-term issuer rating to A2 from Aa3, outlook negative; Short-term P-1 affirmed. Citigroup Inc. Long-term senior debt to Baa2 from A3, outlook negative; short-term P-2 affirmed; CITIBANK OPERATING: Long-term deposit rating to A3 from A1, outlook stable; Short-term to P-2 from P-1. Credit Suisse Group AG. Provisional senior debt to (P)A2 from (P)Aa2, outlook stable; Provisional Short-term (P)P-1 affirmed; OPERATING: Long-term deposit and senior debt rating to A1 from Aa1, outlook stable; Short-term P-1 affirmed. Deutsche Bank AG. OPERATING RATING: Long-term deposit rating to A2 from Aa3, outlook stable; Short-term 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; OPERATING (BANK USA): Long-term deposit rating to A2 from Aa3, outlook stable; Short-term P-1 affirmed. HSBC Holdings Plc. Long-term senior debt to Aa3 from Aa2, outlook negative; Provisional Short-term (P)P-1 affirmed; HSBC Bank plc: Long-term deposit rating to Aa3 from Aa2, outlook negative; Short-term P-1 affirmed. JPMorgan Chase & Co. Long-term senior debt to A2 from Aa3, outlook negative; Short-term P-1 affirmed; CHASE OPERATING: Long-term deposit rating to Aa3 from Aa1, outlook stable; 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; OPERATING: 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 Group Plc. Long-term senior debt to Baa1 from A3, outlook negative; Short-term P-2 affirmed. OPERATING: Long-term deposit rating to A3 from A2; outlook negative; Short-term to P-2 from P-1. UBS AG. Operating: Long-term debt and deposit to A2 from Aa3, outlook stable; Short-term P-1 confirmed. For further details, go to  [24'7WallSt, 6/21/12].