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Non-Tech : Bank of America
BAC 55.88+1.1%Dec 22 4:00 PM EST
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To: Qualified Opinion who wrote (3672)6/21/2012 6:18:44 PM
From: Sr K  Read Replies (1) of 4366
 
Credit Suisse Cut 3 Levels As Moody’s Downgrades Biggest Banks
By Dakin Campbell and Michael J. Moore - Jun 21, 2012 5:27 PM ET

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David Knutson, a Chicago-based credit analyst with Legal & General Investment Management, said Moody’s is in a difficult business because it collects fees from the banks.

“When you upgrade someone, I imagine they’re happy to sign the check because they earn it back in lower rates,” Knutson said. “When you downgrade them, signing that check is a much harder thing to do.”

bloomberg.com
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