BREAKING NEWS: 15 Major Investment Banks See Ratings Cut by Moody's

Moody’s Investors Service downgraded the debt ratings of 15 major international banks and securities firms on Thursday, a move that could cost the banks billions of dollars in extra collateral.



U.S banks that were downgraded included:

Bank of America [BAC 7.82 -0.32 (-3.93%) ], whose long-term debt rating was cut one notch,

Citigroup [C 27.83 -1.03 (-3.57%) ], which was cut two notches,

Goldman Sachs [GS 93.90 -2.65 (-2.74%) ], cut by two notches,

JPMorgan [JPM 35.51 -0.94 (-2.58%) ], cut by two notches,

and Morgan Stanley [MS 13.96 -0.24 (-1.69%) ], also cut by two notches.

[link to www.cnbc.com]

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