Moody's has downgraded its credit rating for Bank of America - the largest US bank by assets - on Wednesday by two notches, because it sees the US government as being less willing than before to rescue the huge bank if it becomes unstable. Moody's downgraded Bank of America’s long-term senior debt rating to "BAA1" from "A2" and its short-term debt rating to "Prime 2" from "Prime 1", according to Reuters. Moody’s added that the long-term outlook on the bank's senior ratings remains negative. In June, Moody's placed Bank of America, Citigroup Inc (C.N) and Wells Fargo & Co (WFC.N) under review for potential downgrades.
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