Fitch Downgrades JPMorgan Chase and Other Big Banks

Dozens of US banks, including major players like JPMorgan Chase, could face downgrades in the near future, according to a Fitch Ratings analyst. A potential downgrade to A+ would trigger large-scale downgrades across the industry, forcing major banks like JPMorgan Chase and Bank of America to be downgraded as well. Lowering the overall industry rating would also lead to downgrades for banks below the top tier, including those on the verge of falling below investment grade. Moody's recently lowered credit ratings for 10 small and midsize US banks, with warnings of potential downgrades for major lenders like Truist Financial and State Street Corp.