Moody’s Whacks 23 Banks

March 13, 2009
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Moody’s said today that “higher than previously expected credit losses” (what did Moody’s previously expect, zero credit losses — but I digress) has led the rating agency to put 23 banks on watch for lower ratings.

Banks looking at a one-notch downgrades include:

Astoria Financial, BancWest, BB&T, BMW Bank of North America, Capital One Financial Corp., Citizens Republic Bancorp, Inc., First Citizens BancShares, Inc., Fulton Financial Corporation, KeyCorp, M&T Bank Corporation, Pacific Capital Bancorp, PNC Financial Services Group, Inc., South Financial Group, Inc., Susquehanna Bancshares, Inc., Trustmark Corporation, U.S. Bancorp, United Bankshares, Inc.

Banks that will likely see a two notch downgrade include:

Fifth Third Bancorp, Huntington Bancshares Incorporated, SunTrust Banks, Inc., Synovus Financial Corp., UCBH Holdings, Inc., UnionBanCal Corporation, Western Alliance Bancorporation, Wilmington Trust Corporation.

And lastly, banks that will suffer a three notch downgrade include:

BBVAPR Holding Corporation, Colonial BancGroup, Inc., Compass Bancshares, Inc., Zions Bancorporation

I’ll say one thing: US Bancorp’s Richard Davis is going to blow a f***ing gasket.

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One Response to Moody’s Whacks 23 Banks

  1. michaelbina on March 13, 2009 at 12:36 pm

    I’m going to blow a gasket, too!

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