- Affirming Credit Suisse's (CS +1%) senior debt credit rating at A1 following the tax evasion guilty plea and $2.8B fine, Moody's nevertheless, cuts the rating outlook to Negative from Stable.
- Moody's notes the penalty will lower the bank's capital ratio to 9.3% from 9.9%, and while the bank has announced plans to pare assets to bring that number back up, its ratios could remain lower than those of its peers. "The settlement delays the timing of any further improvement in the bank's capital ratios."