Moody’s cuts outlook on US banking system to negative

Source: CNBC

“In a harsh blow to an already-reeling sector, Moody’s Investors Service on Monday cut its view on the entire banking system to negative from stable. The firm, part of the big-three rating services, said it was making the move in light of key bank failures that prompted regulators to step in Sunday with a dramatic rescue plan for depositors and other institutions impacted by the crisis. … The move followed action late Monday, when Moody’s warned that it either was downgrading or placing on review for downgrade seven individual institutions.” (03/14/23)