1339 ET - Moody's downgrades to Aa2 from Aa1 the long-term deposit ratings for the rated bank subsidiaries and branches of Bank of America, JPMorgan Chase and Wells Fargo, citing its downgrade of the U.S. Moody's says the move indicates that the U.S. Government's "ability to support the US's global systemically important banks (G-SIBs) has weakened." Moody's also says it downgrades to Aa2 from Aa1 the long-term senior unsecured debt ratings and issuer ratings for certain rated subsidiaries and branches of Bank of America and Bank of New York Mellon. (josh.beckerman@wsj.com)
(END) Dow Jones Newswires
May 19, 2025 13:40 ET (17:40 GMT)
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