Renewed economic turmoil in Brazil could put pressure on many big U.S. and European banks, Standard & Poor's Corp. said Thursday.

The credit rating agency revised its outlook to "negative" for eight big banking companies that do substantial business in Brazil and Latin America: Citigroup, J.P. Morgan & Co., BankBoston Corp., ABN Amro NV, Dresdner Bank AG, Societe Generale, and the Spanish banks Banco Santander and Banco Bilbao Vizcaya.

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