Moody’s cuts US banks due to rising funding costs and Rising risk tied to Commercial Real Estate (CRE) loans
Moody’s Investors Service hs lowered credit ratings for 10 small and midsize US banks and said it may downgrade major lenders including U.S. Bancorp, Bank of New York Mellon Corp., State Street Corp., and Truist Financial Corp, per Bloomberg.
— unusual_whales (@unusual_whales) August 8, 2023
Moody's also noted something we have been talking about:
Rising risk tied to Commercial Real Estate (CRE) loans was another factor.
There is nearly $1.5 trillion in CRE debt that needs to be refinanced by 2025.
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— The Kobeissi Letter (@KobeissiLetter) August 8, 2023
Not in the mood for growing credit risks, Moody’s Cuts US Banks on Mounting Funding Costs, Office Exposure
"said it may downgrade major lenders including US Bancorp, Bank of NY, State Street … as part of a sweeping look at mounting pressures"t.co/f22UMiCBVf
— Peter Spina ⚒ GoldSeek | SilverSeek (@goldseek) August 8, 2023