Moody's Downgrades 10 Banks: Here's What Investors Need to Know
Earlier this year struggles at SVB Financial's Silicon Valley Bank and Signature Bank had investors and depositors concerned about the state of the industry. Since then, a couple of other banks have gone down, including the second-largest bank failure ever at First Republic Bank.
While things seem to have calmed down, the risks aren't gone. That's according to Moody's, one of the largest credit raters in the world. On Aug. 7, Moody's downgraded 10 banks and put several others on notice. The ratings firm cited growing financial strains that could hurt these banks' profitability. Read on to see the 10 impacted banks, along with why Moody's decided to downgrade them.
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Source Fool.com
