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Moody's: Credit profiles of 5 biggest US investment banks remain stable

Moody'ssaid May 4 that the credit profiles of Bankof America Corp., CitigroupInc., Goldman SachsGroup Inc., JPMorganChase & Co. and MorganStanley remain stable, despite weak results for the first quarter.

Accordingto the rating agency, prolonged weak earnings could lead to further business modeland cost structure reconfigurations. But Peter Nerby of Moody's noted thatfirst-quarter results "actually reinforced the enhanced durability of thebanks' credit profiles in the wake of the crisis."

Moody'sattributed revenues and earnings declines in the quarter across investmentbanking, equities and fixed income currencies and commodities at the five banksto macroeconomic instability, increasing energy-related credit costs and globalgrowth concerns.