S&P Global Downgrades Five US Banks, Warns Lenders Hold Billions of Dollars in Loans That May Face ‘Material Deterioration’

Standard & Poors (S&P) just downgraded five more regional banks as pain in the sector continues to spread. In a new outlook report, S&P says it’s downgrading First Commonwealth Financial Corp., M&T Bank Corp., Synovus Financial Corp., Trustmark Corp. and Valley National Bancorp. All five banks were downgraded to “negative” from “stable.” S&P says the […] source: https://dailyhodl.com/2024/04/06/sp-global-downgrades-five-us-banks-warns-lenders-hold-billions-of-dollars-in-loans-that-may-face-material-deterioration/