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USB / S&P lowers ratings for U.S. Bancorp, subsidiaries

S&P lowers ratings for U.S. Bancorp, subsidiaries
U.S. Bancorp USB, -1.80% had its long-term credit ratings downgraded to “A” from “A+” by S&P Global Ratings on Thursday, with the credit-rating firm saying the bank's outperformance compared to its rivals had “narrowed.” “Although U.S. Bancorp (USB) continues to generate higher earnings than its large regional bank peers, we believe its overall performance advantage has narrowed as those peers have gained market share and delivered stable results,” S&P Global said, adding that the bank might need to build capital ratios to meet regulatory requirements by the end of next year should its assets grow. Read More
Posted: May 11 2023, 18:17
Author Name: Market Watch
Views: 110733

USB News  

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