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Moody's cuts ratings of 15 banks, Morgan Stanley down 2 notches

Reported by Reuters India on Friday, 22 June 2012 (on June 22, 2012)

CHARLOTTE, N.C./LONDON (Reuters) - Ratings agency Moody's downgraded 15 of the world's biggest banks on Thursday, lowering credit ratings by one to three notches to reflect the risk of losses they face from volatile capital markets activities, but banks criticized the move as backward looking.

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