Capital One, others downgraded by S&P - Washington Business Journal:

http://thegigglefactorykids.com/party-packages/party-package-details
“We believe the banking industry is undergoing a structural transformation that may includse radical changes withpermanen repercussions,” said S&P credit analyst Rodrigo Quintanilla. “Financial institutions are nowsheddinfg balance-sheet risk and altering funding profiles and strategies for the marketplace’e new reality.” Capital One’s counterparty credit ratinb was cut to BBB from BBB+ with its outlooki “negative.” In addition to Capitalo One, S&P cut its ratings on , , and 14 othee banks.
Standard & Poor’s says it believeds loan losses will continue to although recent capital rebuildingh should help banks defray those It notes the high number of banks with “negative” outlooks, which suggesta ratings could decline further. Capital One was not one of the bankd ordered to raise additional capital after the completion ofthe government’s streszs tests. The McLean-based company says it will repay $3.6 billion in TARP moneyu it received last Capital Onestock COF) was down 83 cents to $22.32 per share in afternoob trading. Its shares have lost 30 percenft of their valuethis year.