- American Airlines files for bankruptcy protection
- S&P downgrades top US banks' credit ratings
- American Airlines timeline
NEW YORK (AP) -- Standard & Poors Ratings Services is adjusting the ratings on 37 of the world's largest financial institutions, including downgrading the biggest banks in the U.S.
Bank of America Corp. and its main subsidiaries were among those cut at least one notch on Tuesday, along with Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley and Wells Fargo & Co.
S&P says the changes reflect its new ratings criteria for banks, which incorporate shifts in the worldwide financial industry and macroeconomic trends, including the role of governments and central banks in industry funding.
Top U.K. downgrades include Barclays, HSBC Holdings, Lloyds Banking Group and The Royal Bank of Scotland.
Ratings for several big European banks, including Credit Suisse, Deutsche Bank, ING and Societe Generale are unchanged.
Civil Action #8500, United States District Court for Southern District of New York,Nov 23, 2011
Fed secretly handed out $8 trillion
- Banco Bilbao Vizcaya Argentaria S.A.
- Bank of America Corp.
- Bank of New York Mellon Corp.
- Barclays Plc
- Citigroup Inc.
- Rabobank Nederland
- Goldman Sachs Group Inc.
- HSBC Holdings Plc
- JPMorgan Chase & Co.
- Loyds Banking Group Plc
- Morgan Stanley
- Royal Bank of Scotland Plc
- UBS AG
- Wells Fargo & Co.
- Bank of China Ltd.
- China Construction Bank Corp.