Nomura Securities on U.S. Banks and Brokers: S&P Revised Bank Ratings Expected Soon, Headline Risks
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Today's Overall Ratings:
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Rating Summary:
22 Buy, 25 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Nomura Securities on U.S. Banks and Brokers: S&P Revised Bank Ratings Expected Soon, Headline Risks
Nomura analyst, Glenn Schorr, said, "We think investors should be aware that banks may face credit ratings downgrades over the next week or so as S&P releases the results of its new ratings criteria. This ratings initiative will have an impact on the ratings of approximately 1,000 banks across 86 banking systems around the world. Although S&P has given advance notice a few times over the past year or so, we believe bank stocks may nevertheless react negatively to any downgrades given the fragile environment and over-reaction to Fitch’s comments last week. In general, JPMorgan (NYSE: JPM) and Wells Fargo (NYSE: WFC) have the strongest credit ratings, while BofA (NYSE: BAC) and Citi (NYSE: C) have the weakest of the group."
Nomura analyst, Glenn Schorr, said, "We think investors should be aware that banks may face credit ratings downgrades over the next week or so as S&P releases the results of its new ratings criteria. This ratings initiative will have an impact on the ratings of approximately 1,000 banks across 86 banking systems around the world. Although S&P has given advance notice a few times over the past year or so, we believe bank stocks may nevertheless react negatively to any downgrades given the fragile environment and over-reaction to Fitch’s comments last week. In general, JPMorgan (NYSE: JPM) and Wells Fargo (NYSE: WFC) have the strongest credit ratings, while BofA (NYSE: BAC) and Citi (NYSE: C) have the weakest of the group."
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