Moody's plans to downgrade ratings of six U.S. banks with concentrated commercial real estate loan exposure

Moody's has begun reviewing the ratings of six regional banks in the United States for possible downgrades due to their sizable exposure to commercial real estate (CRE) loans. The banks under review include First Merchants Corp., F.N.B. Corp., Fulton Financial Corp., Old National Bancorp, Peapack-Gladstone Financial Corp. and Wafd. Moody's said the banks face significant asset quality and profitability pressures due to their high concentration of commercial real estate loans, which are further exacerbated by prolonged high interest rates. These factors exacerbate existing risks, especially during an economic downturn. (Bitcoin.com)