Ratings agency Fitch has updated a number of banks credit ratings this morning.
PNC Financial A+ (affirm/stable)
Category: Credit Ratings
Moody’s Ratings Actions
On Friday Moody’s downgraded bunches of banks – the laundry list can be seen here.
In general it looks like most ratings were lowered 1 notch and mainly because Moody’s has downgraded the outlook for the banking system in a macro view to strong from very strong.
These ratings changes DO affect many preferreds–I’ll be picking through the data so I can update the spreadsheets etc.
If you sign up with Moody’s for a free account you can click the links and read in more detail.