Moody's cut its sector outlook on U.S. banks to negative from stable and put six banks on review for possible downgrade following Silicon Valley Bank collapse.
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Moody’s Investors Service on Tuesday downgraded the U.S. banking system to negative from stable to reflect “the rapid deterioration in the operating environment” following deposit runs and the failures of Silicon Valley Bank, Signature Bank and Silvergate Bank.
Separately, Moody’s placed its debt ratings of six U.S. regional banks under review for a downgrade as it mulled “extremely volatile funding conditions” for some U.S. lenders.
“Although…
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