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JPMorgan’s Credit Outlook Cut by S&P as U.S. Support Wanes

JPMorgan Chase & Co.’s credit-rating outlook was revised to negative by Standard & Poor’s, which said the likelihood of “extraordinary” government support for the largest U.S. banks is waning.

The outlook on JPMorgan’s long-term rating of A was lowered from stable, S&P said today in a statement. That brings JPMorgan in line with the seven other “systemically important” banks including Bank of America Corp. and Goldman Sachs Group Inc., whose outlooks were held at negative. New York-based JPMorgan is the biggest U.S. bank, with $2.4 trillion in assets.