Fifteen major banks were downgraded Thursday in a reflection of the slowing global economy and volatility in financial markets. In a sweeping move, Moody's cut the credit ratings of some of the world's largest financial institutions, including Bank of America, Goldman Sachs and Citigroup.
Credit Rating Agency Moody's Downgrades 15 Banks
By Steve Inskeep • Jun 22, 2012
Originally published on June 22, 2012 4:17 am