Moody’s, the credit rating agency, has issued a warning about the ongoing banking crisis in the United States, stating that it could potentially cause severe spillover effects beyond the banking sector. The agency had recently downgraded the U.S. banking sector from “stable” to “negative,” citing concerns about rising loan losses and deteriorating profitability. Moody’s managing director of credit strategy explained that the country “will be unable to curtail the current turmoil,” which could lead to…
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