Moodys rating agency kicked off downgrades of US Banks

By
Managing Real Estate Broker with ERA American Real Estate

Moodys downgraded to negative Fifth Third Bank, Citizens, Capital One.

Downgraded M & T bank, Pinnacle Financial, BOK financial, Webster Financial.

Citing higher interest rates and commercial real estate asset management on the books for the banks. This seemed a bit of a puzzle to me as this has been going on with interest rate rises for well over a year now this also comes after debt ceiling being settled, better earnings than expected by banks multiple quarters this year, low unemployment, stock market stabilized. This should come as no surprise in regards to commercial real estate as there have been strategic defaults going on for sometime. 

 

I wrote about that last year as an issue https://activerain.com/blogsview/5762819/blackstone-reit-in-the-headlines-with-withdraw-limits 

If you want to read more on the kick off of rating downgrades

 

https://www.cnbc.com/2023/08/08/moodys-cuts-ratings-of-10-us-banks-and-puts-some-big-names-on-downgrade-watch.html 

Posted by

Brandon Jordan, Realtor,E-PRO,ERA American Real Estate
 

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Comments (1)

Charles Ross - eXp Realty LLC
eXp Realty LLC Salina Group - Salina, KS
Love To Help People

Excellent post.Thank you for sharing. Have a wonderful day and a blessed week

Sep 03, 2023 02:34 AM
Brandon Jordan

Thank you for checking out the post and the comment Charles Ross - (785)-819-6944 

Sep 04, 2023 10:45 AM