S&P Global downgraded outlook for five US regional banks due to commercial real estate risks.
S&P Global has downgraded the outlook for five US regional banks from stable to negative due to concerns over commercial real estate (CRE) risks. The banks affected are First Commonwealth Financial, M&T Bank, Synovus Financial, Trustmark, and Valley National Bancorp. S&P cited the banks' high exposure to CRE loans as the reason for the downgrade, which has sparked concerns among investors about the stability of the banking sector.
March 26, 2024
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