S&P says reassessing banks' ratings could take months

05/26/2010 | Bloomberg

Standard & Poor's previously said if Congress removes implicit government support for major financial institutions, it likely will lower their creditworthiness. S&P said the reassessment of banks' credit ratings could take until early next year to complete. "We do not currently intend to change their ratings until we are in a position to analyze fully final legislation and its implementation," said John Bartko and Stuart Plesser, credit analysts at S&P.

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