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Sunday 24 June 2012
Moody's cuts ratings of 15 banks, Morgan Stanley down two notches
CHARLOTTE, N.C./LONDON (Reuters) - Ratings agency Moody's downgraded 15 of the world's biggest banks on Thursday, lowering credit ratings by one to three notches to reflect the risk of losses they face from volatile capital markets activities, but banks criticized the move as backward looking.
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