No Investor Backlash Over Banks' Credit Downgrades

 

Banking market surprises Moody's Investors Service (MCO) downgraded Morgan Stanley (MS), Credit Suisse Group (CS), and 13 Other Banks registered credit rating surprising.
The Defiant Were Banks themselves. Citigroup, Which took a cut from Moody's to Lowest ratings since it WAS ITS Formed 14 years ago, said in a statement: "Moody's approach is backward-looking and Fails to Recognize Citi's transformation over the past Several years.