S&P starts a Ratings Cut Blodobath for the Banks just after the market close

By John Galt
November 29, 2011 – 16:55 ET

Goldman Sachs

HSBC

Bank of America

Citigroup

Merrill Lynch unit of BoA

Wells Fargo

plus 31 others.

More info after the press release is issued in detail via the Standard & Poor's website.

Well, still no press release as of 17:50 but here is Reuter's version of the story at the link below:

S&P criteria change reduces ratings on big banks