Standard & Poor’s downgraded First Interstate.
The rating agency cited an increase in the Los Angeles banking company’s problems with bad loans, particularly in real estate, energy and consumer lending. But S&P; also said: “First Interstate continues to enjoy high liquidity, strong funding and an extensive interstate presence. . . . The firm is significantly less vulnerable to Latin American credits than its peers.” The action, which dropped ratings on several issues one notch, affects about $1.3 billion of First Interstate securities.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
