State regulators closed Signature Bank on Sunday
Moody’s, which rated Signature Bank’s subordinate debt ‘C’, mentioned it was additionally withdrawing future scores for the collapsed financial institution.
Ratings company Moody’s on Monday downgraded the debt scores of collapsed New York-based Signature Bank (SBNY.O) deep into junk territory and positioned the scores of six different U.S. banks underneath assessment for a downgrade.
Moody’s, which rated Signature Bank’s subordinate debt ‘C’, mentioned it was additionally withdrawing future scores for the collapsed financial institution.
The banks positioned underneath assessment for downgrade are First Republic Bank (FRC.N), Zions Bancorporation (ZION.O), Western Alliance Bancorp (WAL.N), Comerica Inc (CMA.N), UMB Financial Corp and Intrust Financial Corporation, Moody’s mentioned.
State regulators closed Signature Bank on Sunday, the third largest failure in U.S. banking historical past, two days after authorities shuttered Silicon Valley Bank (SIVB.O) in a collapse that stranded billions in deposits.
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(This story has not been edited by News18 employees and is revealed from a syndicated information company feed)
