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Moody's Cuts Bank of America Citi and Wells Fargo Ratings
Moody's Investors Service downgraded long term debt for Bank of America to Ba1, Wells Fargo to A2, and Citi to A3 after placing them on review. Citigroup also faced a short term debt downgrade while government support expectations diminished under the Dodd-Frank framework. The moves raise borrowing costs and come amid ongoing European debt concerns.
MENTIONED IN THIS ARTICLE
Moody’s
Bank of America
Citi
Wells Fargo
New York
Moody’s Investors Service
Citigroup
U.S
David Fanger
Bank of America Corp
Wells Fargo & Co
Citigroup Inc
Bank of America’s