Moody’s Cuts Credit Ratings of 15 Big Banks

Breaking News: Moody’s Cuts Credit Ratings of 15 Big Banks

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Breaking News Alert
The New York Times
Thursday, June 21, 2012 — 5:47 PM EDT
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Moody’s Cuts Credit Ratings of 15 Big Banks

Moody’s Investors Service has lowered the ratings of some of the world’s largest banks, including Bank of America, JPMorgan Chase, Citigroup and Goldman Sachs.

The ratings agency said late Thursday that the banks were downgraded because their long-term prospects for profitability and growth are shrinking.

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