The planned overhaul of US financial rules prompted S&P to warn on Tuesday it might downgrade the single A credit ratings of Citigroup and Bank of America on concerns that the shake-up would lessen the chances of further government bail-outs if they ran into trouble again. S&P revised its outlook on Citi and BofA from stable to negative, even though it acknowledged that Citi and BofA had bolstered their balance sheets and improved their performance in recent months.

This entry was posted by Gwen Robinson on Wednesday, February 10th, 2010 at 5:09 and is featured in The 6am Cut London (10 Feb 2010) . Tagged with BofA, citi. Edit this entry.