Friday, November 15, 2013

credit ratings downgraded

Goldman (GS), Morgan Stanley (MS0, JPMorgan (JPM), and Bank of NY Mellon (BK) all had their credit ratings downgraded one notch yesterday evening by Moody's. Goldman was lowered to Baa1 (BBB+ S&P equiv), Morgan to Baa2 (BBB equiv), JPM to A3 (A- equiv), and BofNYM to A1 (A+ equiv). This affected all senior and subordinate debt.