Ratings agency Moody’s said Wednesday it maintained a “negative” outlook on China’s banking sector due to a drawn out recovery from Covid controls.

The Federal Reserve will likely not raise interest rates at its March meeting as there is still a “boatload of uncertainty” said Mark Zandi of Moody’s Analytics. 

The firm, part of the big three rating services, said it was making the move in light of key bank failures.

San Francisco, New York City and Phoenix are among the most at risk of sea-level rise, extreme heat and water stress, according to a Moody’s Analytics report.

Moody’s lowered its outlook for four Adani Group companies, citing a “significant and rapid decline” in the market values of the entities.