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S&P downgrades global banks

S&P Downgrades Goldman Sachs, Citigroup and BofA

by Dunstan Prial Fox Business November 30, 2011 Standard & Poor’s on Tuesday cut its credit ratings for many of the world’s largest banks, including Citigroup (NYSE: C), Goldman Sachs (NYSE: GS) and Bank of America (NYSE: BAC). The move follows S&P’s shift, announced earlier this month, in the methods it uses for rating the banks. Citigroup, Goldman Sachs and Bank of America Corp. each had their long-term credit ...Read full article...