Moody’s Investors Service downgraded the debt ratings of 15 international banks on Thursday, including five U.S. banks. Downgrades hit Bank of America, Citigroup, Goldman Sachs, JPMorgan, and Morgan Stanley. The downgrades mean that it will become more expensive for banks to raise money by selling debt. Moody’s also downgraded Royal Bank of Canada and nine European banks. Earlier this year, the ratings firm announced that it would review the ratings of 17 global investment banks, and already downgraded Macquarie and Nomura.