Goldman Sachs Downgraded by S&P: Bloomberg

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By Eleazar David Meléndez | December 23, 2011 7:23 AM EST

[Editor's Note: Crucial facts in this story, sourced to an external media source, has since been denied by a Standard and Poor's spokeperson.]

Goldman Sachs (NYSE:GS), the large American investment bank, has been downgraded by credit rating agency Standard and Poor's, unconfirmed reports from Bloombergs state.

It would be the second time the bank is downgraded by S&P in less than a month.

On Nov. 29, the corporate credit risk assigned to the bank was taken down one notch by the ratings issuer, as part of a wider downgrade of the global banking industry resulting from a change in rating methodology.

Shares of Goldman Sachs, which were trading at just over $94 before the news broke, have been highly volatile in the past few minutes, and are currently trading at $93.43, up 1.55 percent for the day.

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