San Antonio's Frost Bank faces possible credit downgrade over recession fears
The credit rating of San Antonio-based Frost Bank is under review, and two other Texas banks have already been downgraded by Moody's as the rating agency raises the alarm about a potential recession and rising loan defaults. The Moody's downgrades comes after three regional banks collapsed during the spring, sparking fears of a financial meltdown in the United States. Moody's revealed its review of Frost, which employs 4,600 people in the Alamo City, in a report released Tuesday.
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