S&P joins Moody's to threaten Barclays downgrade over Libor scandal resignations Moody's said: "The shareholder and political pressures on Barclays, which resulted in the resignation of the bank's chief executive, chief operating officer ... and the stated intention of the chairman to resign, could lead to broader pressure on the bank to shift its business model away from investment banking and reform perceived failures in its business culture." Mr Diamond resigned on Tuesday under pressure from politicians and regulators over the Libor manipulation scandal. Fitch, which downgraded Barclays to 'A' from 'AA-' with a stable outlook in December, said today that the impact of the Libor investigation "did not currently alter" its view on Barclays. However, it said: "If the investigations or any reputational damage result in a notable and lasting business or financial impact that meaningfully impacts a bank's credit risk profile, Fitch would then reconsider the appropriate rating levels for the affected institutions." Barclays shares were trading down 0.4pc in morning trading at 165.25p.