On Monday, the rating company Moody’s placed six other US banks’ debt ratings under evaluation for a downgrade and severely reduced the debt ratings of the collapsed New York-based Signature Bank.
Future ratings for the failed bank were also being withdrawn, according to Moody’s, which gave the subordinate debt of Signature Bank a “C” grade.
According to Moody’s, First Republic Bank, Zions Bancorporation, Western Alliance Bancorp, Comerica Inc., UMB Financial Corp., and Intrust Financial Corporation are the banks under review for downgrade.
Two days after authorities shut down Silicon Valley Bank in a collapse that left billions in savings unclaimed, state regulators shut down Signature Bank on Sunday, the third-largest failure in American banking history.
