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Fitch cuts WaMu rating, may cut other banks

Fri Mar 7, 2008 5:56pm EST

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NEW YORK, March 7 (Reuters) - Fitch Ratings on Friday cut its ratings on Washington Mutual Inc (WM.N), and said it may cut Bank of America Corp (BAC.N) and Citigroup (C.N), due to their exposures to residential mortgages.

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Fitch cut WaMu's ratings two notches to "BBB," the second lowest investment grade, from "A-minus." Bank of America and Citigroup's "AA" ratings, the third highest investment grade, were placed on review for downgrade.

(Reporting by Karen Brettell;)

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