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Moody’s

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Moody’s Downgrades BofA, Wells Fargo 

Jan 08, 2009By

It turns out that, for now at least, acquiring ailing financial institutions will carry some ratings risk — Moody’s Investors Service on Thursday said it had downgraded key credit ratings at both Bank of America Corp. [stock BAC][/stock] and Wells Fargo & Co. [stock WFC][/stock], after both banks completed sizable acquisitions in recent weeks. Ratings cuts affected debt ratings, as well as financial strength ratings at the lead banks.