Moody’s Investor Service has downgraded the U.S. banking sector by one notch as the sector faces higher interest rates, funding risks and less credit strength, on the heels of earnings updates from financial firms in recent days.
Citing deterioration of the operating environment and pressure on profit margins, Moody’s late Friday cut its macro profile of the U.S. banking system to “Strong+” from “Very Strong-“.
“There…
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