THE BANK OF CORRUPTION :Credit Suisse Cut to One Level Above Junk Status by S&P - bloomberg

S&P cuts bank’s long-term rating to BBB-, with stable outlook Chairman Lehmann said capital raise to make bank ‘rock solid’ Credit Suisse Group AG’s long-term rating was downgraded by S&P Global Ratings to just one level above junk status, underscoring the bank’s challenges after it laid out a radical restructuring plan last week. The Swiss bank’s long-term rating was cut to BBB- from BBB, with a stable outlook. That’s just one notch above the BB “speculative grade.” The US ratings firm, echoing several analysts after the restructuring was announced on Thursday, said it sees “material