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Non-Tech : Banks--- Betting on the recovery

WFC 87.11

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From: David C. Burns	3/30/2012 2:46:34 PM
	of 1428

Three Major Banks Prepare for Possible Credit Downgrades Moody’s Investors Service, one of the two big ratings agencies, has said it will decide in mid-May whether to lower its ratings for 17 global financial companies. Morgan Stanley, which was hit hard in the financial crisis, appears to be the most vulnerable. Moody’s is threatening to cut the bank’s ratings by three notches, to a level that would be well below the rating of a rival like JPMorgan Chase. Bank of America and Citigroup may also fall to the same level as Morgan Stanley, but those two are helped by having higher-rated subsidiaries. dealbook.nytimes.com

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