Standard & Poor's lowered ratings, revises outlooks on 22 US banks
Standard & Poor's lowered its ratings and revised its outlooks on 22 rated US banks, saying operating conditions for the industry will become less favorable than they were in the past, characterized by greater volatility in financial markets during credit cycles, and tighter regulatory supervision.
Standard and Poor's has taken rating actions on over 30 Italian financial institutions due to an expected recession in the country, the international ratings agency said in a statement.