Banks, bond issuers and investors are bracing for aftershocks from a
wave of bank downgrades expected to hit the U.S. as soon as the
coming week. Moody's Investors Service has said it is likely to reduce
by the end of June credit ratings for 17 large global banks, including
five of the six biggest U.S. financial firms by assets. The downgrades
are expected to raise borrowing costs and crimp some lucrative trading
businesses at the banks, including at J.P. Morgan Chase, Bank of
America, Citigroup, Goldman Sachs and Morgan Stanley
Read more: Big US banks brace for downgrades
