UMB shares are trading lower after S&P lowered its rating on the bank.
Portfolio Pulse from Benzinga Newsdesk
UMB Financial Corporation's shares are trading lower after S&P Global Ratings downgraded its rating on the bank.
August 22, 2023 | 4:33 pm
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NEGATIVE IMPACT
UMB Financial Corporation's stock price is likely to be negatively impacted in the short term due to the S&P rating downgrade.
Credit ratings are a significant factor in a company's ability to borrow and the cost of borrowing. A downgrade in credit rating usually indicates a higher risk associated with the company's ability to meet its financial obligations. This can lead to a decrease in investor confidence, resulting in a drop in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100