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 […]

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The post S&P Global Downgrades Five US Banks, Warns Lenders Hold Billions of Dollars in Loans That May Face ‘Material Deterioration’ appeared first on The Daily Hodl.
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