–Concludes Review Initiates Feb 15
LONDON (MNI) – Moody’s tonight said it had ‘repositioned’ the
ratings of 15 banks and securities firms with global capital markets
operations.
In a statement, Moody’s said:
“Today’s rating actions conclude the review initiated on 15
February 2012 when Moody’s announced a ratings review prompted by its
reassessment of the volatility and risks that creditors of firms with
global capital markets operations face.
“In the past, these risks have led many institutions to fail or to
require outside support, including several firms affected by today’s
rating actions. Today’s actions, however, reflect not only the credit
implications of capital markets operations. They also reflect (i) the
size and stability of earnings from non-capital markets activities of
each firm, (ii) capitalization, (iii) liquidity buffers, and (iv) other
considerations, including, as applicable, exposure to the operating
environment in Europe, any record of risk management problems, and risks
from exposure to US residential mortgages, commercial real estate or
legacy portfolios”.
Moody’s said it had taken ratings actions on the following
institutions:
Bank of America Corporation
Long-term senior unsecured debt to Baa2 from Baa1, outlook
negative; Short-term P-2 affirmed
Barclays plc
Long-term issuer rating to A3 from A1, outlook negative; Short-term
to P-2 from P-1
Citigroup Inc.
Long-term senior debt to Baa2 from A3, outlook negative; short-term
P-2 affirmed
Credit Suisse Group AG
Provisional senior debt to (P)A2 from (P)Aa2, outlook stable;
Provisional Short-term (P)P-1 affirmed
Goldman Sachs Group, Inc.
Long-term senior unsecured debt to A3 from A1, outlook negative;
Short-term to P-2 from P-1
HSBC Holdings plc
Long-term senior debt to Aa3 from Aa2, outlook negative;
Provisional Short-term (P)P-1 affirmed
JPMorgan Chase & Co.
Long-term senior debt to A2 from Aa3, outlook negative; 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
Royal Bank of Scotland Group plc
Long-term senior debt to Baa1 from A3, outlook negative;
Short-term P-2 affirmed
Moody’s has taken action on the following operating company
ratings:
Bank of America, N.A.
Long-term deposit rating to A3 from A2, outlook stable; Short-term
to P-2 from P-1
Barclays Bank plc
Long-term issuer rating to A2 from Aa3, outlook negative;
Short-term P-1 affirmed
BNP Paribas
Long-term debt and deposit rating to A2 from Aa3; outlook stable;
Short-term P-1 affirmed
Citibank, N.A.
Long-term deposit rating to A3 from A1, outlook stable; Short-term
to P-2 from P-1
Credit Agricole S.A.
Long-term debt and deposit rating to A2 from Aa3, outlook negative;
Short-term P-1 affirmed
Credit Suisse AG
Long-term deposit and senior debt rating to A1 from Aa1, outlook
stable; Short-term P-1 affirmed
Deutsche Bank AG
Long-term deposit rating to A2 from Aa3, outlook stable; Short-term
P-1 affirmed
Goldman Sachs Bank USA
Long-term deposit rating to A2 from Aa3, outlook stable; Short-term
P-1 affirmed
HSBC Bank plc
Long-term deposit rating to Aa3 from Aa2, outlook negative;
Short-term P-1 affirmed
JPMorgan Chase Bank, N.A.
Long-term deposit rating to Aa3 from Aa1, outlook stable;
Short-term P-1 affirmed
Morgan Stanley Bank, N.A.
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 plc
Long-term deposit rating to A3 from A2; outlook negative;
Short-term to P-2 from P-1
Societe Generale
Long-term debt and deposit to A2 from A1; outlook stable;
Short-term P-1 affirmed
UBS AG
Long-term debt and deposit to A2 from Aa3, outlook stable;
Short-term P-1 confirmed.
–London Bureau; Tel: +442078627492; email: ukeditorial@marketnews.com
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