Standard & Poor’s Ratings Services (S&P) is seeking to amend its credit-rating methods for banks and financial institutions, The Wall Street Journal reports. Around 40% of the total banks that S&P rates will have their issuer credit rating downgraded. Of 138 banks in total that S&P rates, 40 may be downgraded by one notch, while 10 may see a downgrade of two or more notches. About 20 could see a one-notch upgrade to their ratings, while under 10 could get a two notch upgrade.
Click here for the story from The Wall Street Journal.