SEATTLE: JPMorgan Chase & Co, Bank of America Corp and Citigroup Inc are among eight large US banks that may have credit grades cut by Standard & Poor's (S&P) on the prospect that the US government is less likely to provide aid in a crisis.
The companies – along with Wells Fargo & Co, Goldman Sachs Group Inc, Morgan Stanley, Bank of New York Mellon Corp and State Street Corp – had senior unsecured and nondeferrable subordinated debt ratings placed on negative credit watch, S&P said in a statement on Monday.
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