Via S&P today:
Our outlook on global banks has turned sharply more negative in recent weeks as a result of the significant effects of the coronavirus pandemic, oil shock, and market volatility, says S&P Global Ratings today in a report published on RatingsDirect.
“We took 175 rating actions on banks between the start of the pandemic and May 4,” said S&P Global Ratings credit analyst Alexandre Birry. “Nevertheless, 82% (143 banks) were outlook revisions, while only 18% (31) were downgrades.”