Moody's cuts ratings for regional banks, subsidiaries

11/3/2010 | Bloomberg Businessweek

Moody's Investors Service noted waning government support for financial institutions as it downgraded ratings for several regional banks and subsidiaries. The ratings cuts affected Zions Bancorp, U.S. Bancorp, SunTrust Banks, Regions Financial, Popular Inc., PNC Financial Services Group, KeyCorp, Fifth Third Bancorp, Capital One Financial, BB&T and subsidiaries of American Express. "The downgrades reflect our view that the likelihood of government support for these 10 institutions is now lower that the U.S. banking system has moved beyond the depths of the financial crisis," wrote Robert Young of Moody's.

View Full Article in:

Bloomberg Businessweek

Published in Brief: