Fitch warns it may be forced to downgrade multiple banks, including JPMorgan - CNBC

Fitch Ratings analyst warns of potential U.S. bank downgrades, including JPMorgan Chase, due to lowered industry assessment; Moody’s recent downgrades also impact lenders [View in browser]( [See all newsletters]( 16 August 2023 Fitch warns it may be forced to downgrade multiple banks, including JPMorgan - CNBC An analyst at Fitch Ratings warned that U.S. banks, including JPMorgan Chase, could be downgraded if the agency further cuts its assessment of the operating environment for the industry, according to a report from CNBC on Tuesday. - Read:[Wall St ends lower; strong retail sales stoke interest rate worries]( In June, Fitch lowered the score of the U.S. banking industry's "operating environment" to AA- from AA, citing pressure on the country's credit rating, gaps in regulatory framework and uncertainty about the future trajectory of interest rate hikes. - Read: [Why bank downgrades in the US fail to affect Indian banks?]( Another one-notch downgrade, to A+ from AA-, would force Fitch to reevaluate ratings on each of the more than 70 U.S. banks it covers, analyst Chris Wolfe told CNBC. Lenders were rocked earlier this month after Fitch's peer Moody's downgraded 10 mid-sized U.S. banks and warned it may cut ratings of several others. (Reporting by Niket Nishant in Bengaluru; Editing by Maju Samuel) You Might Also Like [IndiGo co-founder looks to sell 4% stake]( [Logistics]( [IndiGo co-founder looks to sell 4% stake]( [Heavy rain, landslides disrupt business and industrial activity in Himachal]( [Economy]( [Heavy rain, landslides disrupt business and industrial activity in Himachal]( [SME IPOs gain momentum with massive subscriptions and listing gains]( [Markets]( [SME IPOs gain momentum with massive subscriptions and listing gains]( [Ola Electric to double current EV manufacturing capacity in 6–9 months]( [Companies]( [Ola Electric to double current EV manufacturing capacity in 6–9 months]( Copyright @ 2023, THG PUBLISHING PVT LTD. If you are facing any trouble in viewing this newsletter, please try [here]( Manage your newsletter subscription preferences [here]( If you do not wish to receive such emails go [here](