Standard & Poor’s has outlined how it plans to rate banks, after its reputation took a serious blow for failing to downgrade toxic assets held by the institutions during the financial crisis. The credit rating agency expects to use a banking industry country risk assessment to create an initial credit profile, followed by a look at the levels of likely financial support in the event of a crisis. Finally, it will combine stand-alone ratings and the likelihood of support into a single potential issuer credit rating (ICR).

Click here to read the story from Financial News.