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Standard Poors Inc

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July 17, 2001 | Reuters
Standard & Poor's on Monday cut its credit rating outlook for three top U.S. investment banks--Goldman Sachs Group Inc., Merrill Lynch & Co. and Morgan Stanley--to "negative" from "stable," citing a slump in fees and competition from big commercial banks. S&P said the banks are being forced to take on more credit risk and that downgrades could take place within three years.
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BUSINESS
July 17, 2001 | Reuters
Standard & Poor's on Monday cut its credit rating outlook for three top U.S. investment banks--Goldman Sachs Group Inc., Merrill Lynch & Co. and Morgan Stanley--to "negative" from "stable," citing a slump in fees and competition from big commercial banks. S&P said the banks are being forced to take on more credit risk and that downgrades could take place within three years.
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