Warning! Moody's Downgrades 10 US Banks

<p>&nbsp;Rating agency Moody's has downgraded the credit ratings of several US banks, warning that several other giant banks are also under its watch.</p><p><br /></p><p>Among the affected banks are M&amp;T Bank, Pinnacle Financial Partners, Prosperity Bank and BOK Financial Group.</p><p><br /></p><p>While the banks that are under observation or being reviewed for downgrading are BNY Mellon, US Bancorp, State Street and Truist Financial.</p><p><br /></p><p><br /></p><p>Moody's said in its note that most banks' second-quarter results showed growing pressure on profits, which could reduce their ability to generate internal capital.</p><p><br /></p><p>He added that this situation occurs when a mild recession is approaching and banks are facing greater risks than interest rates and managing their assets and liabilities.</p><p><br /></p><p>This is reminiscent of the collapse of Silicon Valley Bank and Signature Bank earlier this year which has shaken confidence in the US banking sector.</p><p><br /></p><p>Meanwhile, Moody's also lowered its outlook on Capital One, Citizens Financial and Fifth Third Bancorp to negative from stable.</p>