Fitch warns it may be forced to downgrade dozens of banks, including JPMorgan Chase
- Fitch Ratings has warned that the US banking industry is at risk of rating downgrades, including JPMorgan Chase, due to pressure on the country's credit rating, gaps in regulatory framework, and uncertainty about interest rate hikes.
- Another one-notch downgrade of the industry's score would force Fitch to reevaluate ratings for all the more than 70 US banks it covers.
- Downgrades could have significant consequences for banks, such as higher borrowing costs, compressed profit margins, and potential restrictions in debt markets.
19 Articles
19 Articles
Fitch warns that it may have to downgrade the ratings of dozens of US banks
A Fitch Ratings analyst warned that U.S. banks, including JPMorgan Chase, could be downgraded if the rating agency further worsens its assessment of the banking industry's operating environment, according to a report published by CNBC.
Fitch considering potential downgrade of multiple banks, including JPMorgan: CNBC
Fitch Ratings, a notable credit ratings agency, has cautioned that it could potentially downgrade several significant banks, including JP Morgan Chase, according to a CNBC report cited by Reuters. Chris Wolfe, an analyst at Fitch Ratings, highlighted that the industry's health assessment experienced a setback earlier this year, though with limited public attention.
Fitch warns multiple US banks face credit downgrade: report
A Fitch Ratings analyst on Tuesday warned the agency may be forced to cut the credit ratings of more than a dozen banks, including some major Wall Street lenders. Fitch already lowered the score of the "operating environment" for U.S. banks to AA- from AA at the end of June – a move that went largely unnoticed. In making that decision, the agency cited downward pressure on the country's sovereign debt rating, gaps in regulatory framework around…
Fitch warns of possible bank downgrades
A Fitch Ratings analyst warned of possible downgrades on dozens of U.S. banks including JPMorgan Chase, if the agency continues to cut its assessment of the industry’s health. In an exclusive interview with CNBC’s Hugh Son, Fitch Rating analyst Chris Wolfe said when the rating agency lowered its “operating environment score” for U.S. banks from a “AA”…
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