Moody’s said today that “higher than previously expected credit losses” (what did Moody’s previously expect, zero credit losses — but I digress) has led the rating agency to put 23 banks on watch for lower ratings.
Banks looking at a one-notch downgrades include:
Astoria Financial, BancWest, BB&T, BMW Bank of North America, Capital One Financial Corp., Citizens Republic Bancorp, Inc., First Citizens BancShares, Inc., Fulton Financial Corporation, KeyCorp, M&T Bank Corporation, Pacific Capital Bancorp, PNC Financial Services Group, Inc., South Financial Group, Inc., Susquehanna Bancshares, Inc., Trustmark Corporation, U.S. Bancorp, United Bankshares, Inc.
Banks that will likely see a two notch downgrade include:
Fifth Third Bancorp, Huntington Bancshares Incorporated, SunTrust Banks, Inc., Synovus Financial Corp., UCBH Holdings, Inc., UnionBanCal Corporation, Western Alliance Bancorporation, Wilmington Trust Corporation.
And lastly, banks that will suffer a three notch downgrade include:
BBVAPR Holding Corporation, Colonial BancGroup, Inc., Compass Bancshares, Inc., Zions Bancorporation
I’ll say one thing: US Bancorp’s Richard Davis is going to blow a f***ing gasket.