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Moody's Downgrades Major Global Banks -2-

Moody's also cut its ratings on France's three largest-listed banks. Moody's downgraded the long-term debt ratings of BNP Paribas SA (BNP.FR, BNPQY) and Credit Agricole SA (ACA.FR, CRARY) by two notches to A2. The two banks have negative outlooks. Societe Generale SA (GLE.FR, SCGLY) was downgraded by one notch to A2 with a stable outlook. Credit Suisse was downgraded by three notches to A1 with a stable outlook. Deutsche Bank AG (DB, DBK.XE) was downgraded by two notches to A2 with a stable outlook. Moody's lowered its ratings on UBS AG (UBS, UBSN.VX) by two notches to A2 with a stable outlook. Royal Bank of Canada (RY, RY.T) was downgraded by two notches to Aa3 with a stable outlook. In its statement, Citi said it was "especially surprised by Moody's disproportionately adverse treatment of U.S. firms relative to banks in Europe...Citi believes that the U.S. financial system is stronger, not weaker, than it was before the crisis. Actions by legislators, regulators and firms themselves have substantially enhanced the stability, and resilience, of the system. Moody's actions ignore this fact." HSBC, Barclays and Deutsche Bank declined to comment. --Andrew R. Johnson, Matthias Rieker, Brett Philbin, Liz Moyer, Ben Fox Rubin, Nathalie Tadena, Max Colchester and Laura Stevens contributed to this article. Write to Ben Fox Rubin at ben.rubin@dowjones.com

Stock News for Bank of America (BAC)
DateTimeHeadline
05/27/201614:30:00Bank of America Relaunches Sale of Credit-Card Issuer MBNA
05/27/201614:19:00Bank of America Relaunches Sale of Credit-Card Issuer MBNA...
05/27/201613:37:26Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
05/27/201612:52:29Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
05/27/201611:33:27Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
05/27/201611:03:39Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
05/27/201609:30:40Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
05/26/201601:30:00Wells Fargo to Offer Low-Down-Payment Mortgages Without FHA Backing
05/25/201615:09:37Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
05/25/201603:02:00BofA Tipster Gets to Keep His Reward -- WSJ
05/24/201621:10:00Solicitor General Tells Supreme Court Not to Hear Interest-Rate...
05/24/201619:35:00Bank of America Tipster Gets to Keep His Reward
05/24/201603:02:00Court Tosses Crisis-Era Fraud Fine -- WSJ
05/23/201619:52:00Appeals Court Throws Out $1.27 Billion Penalty Against BofA...
05/23/201616:25:00Appeals Court Throws Out $1.27 Billion Penalty Against BofA...
05/23/201615:13:00Civil Antitrust Claims Reinstated Against 16 Banks in Libor Case...
05/23/201614:53:00Civil Antitrust Claims Reinstated Against 16 Banks in Libor Case...
05/23/201614:04:00Civil Antitrust Claims Reinstated Against 16 Banks in Libor Case...
05/23/201613:35:00Civil Antitrust Claims Reinstated Against 16 Banks in Libor Case...
05/23/201613:30:00Civil Antitrust Lawsuits Reinstated Against 16 Banks in Libor...

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