US Banks at Risk of Credit Downgrade, Fitch Warns

Fitch Ratings has warned that it may downgrade the credit ratings of over a dozen US banks, including major Wall Street lenders, due to downward pressure on the country's sovereign debt rating, gaps in regulatory framework, and uncertainty over interest rates. Another downgrade of the industry's score would force Fitch to reassess ratings on more than 70 US banks, potentially impacting banking giants like JPMorgan Chase and Bank of America. This comes after Moody's recently downgraded the ratings of 10 banks and placed six banking giants on review for potential downgrades, citing concerns over interest rates and commercial real estate risks.