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JP MORGAN CHASE DOWNGRADED AFTER $2 BILLION LOSS
NEW YORK (CNNMoney) -- The closing bell brought no relief for JPMorgan Chase on Friday, as a major credit rating agency moved to downgrade its debt almost exactly 24 hours after the bank revealed a $2 billion trading loss.
Fitch Ratings downgraded both JPMorgan's short-term and long-term debt, with the latter falling to A+ from AA-. The bank, the country's largest by assets, was also placed on ratings watch negative.
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Complete thread:
- JP MORGAN CHASE DOWNGRADED AFTER $2 BILLION LOSS - Theresa, 2012-05-11, 18:29
- TIME FOR THE WALL STREET SHUFFLE - Northern1, 2012-05-11, 19:49
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- JP MORGAN CHASE DOWNGRADED AFTER $2 BILLION LOSS - CatFan, 2012-05-12, 13:24
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- TIME FOR THE WALL STREET SHUFFLE - Northern1, 2012-05-11, 19:49


