S&P Global on Monday cut credit ratings and revised its outlook for multiple U.S. banks, following a similar move by Moody's, warning that funding risks and weaker profitability will likely test the sector's credit strength.
A sharp rise in interest rates is weighing on many U.S. banks' funding and liquidity, S&P said in a summarized note, adding that deposits held by Federal Deposit Insurance Corp -insured banks will continue to decline as long as the Federal Reserve is "quantitatively tightening."
The rating agency also downgraded the outlook of S&T Bank and River City Bank to negative from stable on high commercial real estate exposure among other factors.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Northbound Interstate 25 at RidgeGate Parkway closed Monday morning after multi-vehicle crashNorthbound Interstate 25 at RidgeGate Parkway closed Monday morning after multiple cars crashed, according to Colorado State Patrol.
Leer más »
49ers’ Jake Moody comes through, but there’s still reason to be concerned49ers place kicker Jake Moody kicked three field goals but has room for improvement as Week 1 approaches.
Leer más »
S&P Global Ratings downgrades several US banks citing higher rates, deposit movesHaving witnessed a slew of credit rating downgrade from Moody’s amid early August, the S&P Global Ratings announced another shock to the US banks late
Leer más »
Sports on TV for Monday, August 21(All times Eastern) Schedule subject to change and/or blackouts Monday, August 21 ESPN — Little League World Series: Willemstad, Curaçao vs.
Leer más »
Hot streak continues in Dallas-Fort Worth; excessive heat advisory in place through MondaySunday could be the hottest day of 2023, according to the weather forecast. The heat has been breaking records all summer.
Leer más »
PM Update: Above-average warmth gains additional humidity tonight, MondayHeat index values could hit the upper 90s in a few spots Monday. Wildfire smoke is expected to stay moderate.
Leer más »