NEW YORK – Moody's Investors Service has lowered the credit ratings on some of the world's biggest banks, including Bank of America, JPMorgan Chase and Goldman Sachs, reflecting concern over their exposure to the violent swings in global financial markets.
Among the banks that were downgraded Thursday:
• Bank of America's debt was downgraded to Baa2 from Baa1. That's just a couple of notches above junk status. • JPMorgan Chase's debt was downgraded to A2 from Aa3
• Citigroup's to Baa2 from A3
• Morgan Stanley's to Baa1 from A2
• Goldman Sachs's to A3 from A1
• HSBC's to Aa3 from Aa2
• Barclay's to A3 from A1