Moody's downgrades Signature Bank's ratings to junk

Ratings agency Moody's has downgraded the ratings of the collapsed Signature Bank to junk territory and also withdrew its future ratings. The agency also placed ratings of six other US banks under review for a downgrade. The banks placed under review are First Republic Bank, Western Alliance Bancorp, Comerica, UMB Financial Corporation, Intrust Financial Corporation and Zions Bancorporation.