Moody's Reviewing Credit Suisse Rating

Credit Suisse is under review by Moody's Investors Service, and could lose its triple-A standing for $2 billion of long-term deposits and senior long-term Eurodebt.

Moody's cited a more competitive banking environment in Switzerland and the potential effects of a global recession as reasons for concern.

The Swiss bank has been a major provider of letters of credit for U.S. securities. As part of its review, Moody's is evaluating the credit quality on $12 billion of securities backed by letters of credit that Credit Suisse has issued.

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