BREAKING NEWS

BREAKING NEWS

S&P cuts US and Europeans bank ratings 

Now Reading:

S&P cuts US and Europeans bank ratings 

Text size Aa Aa

Standard and Poors has cut its crediting rating for 15 big banks, mainly in Europe and the United States. The downgrade is a result of an overhaul of its ratings criteria.

Among those affected are JPMorgan Chase, Bank of America, Barclays and Royal Bank of Scotland.

S&P also left the ratings of 20 banks unchanged and raised those of two others – Bank of China and China Construction Bank.