After the news of its $2 billion loss, the outlook for JP Morgan Chase's future has taken a slight turn for the worse. Fitch Ratings announced they've changed their Long-term Issuer Default Rating from "AA-" to "A+" and changed their long-term outlook for the company to Ratings Watch Negative. 

After the news of the loss was released late on Thursday, JP Morgan had a very bad Friday that included calls for the "King of Wall Street" Jamie Dimon's resignation, and the announcement of an SEC investigation into the loss. The ratings company's main concerns with the the loss were adressed in this paragraph of their report: 

Fitch views the size of loss as manageable. That said, the magnitude of the loss and ongoing nature of these positions implies a lack of liquidity. It also raises questions regarding JPM's risk appetite, risk management framework, practices and oversight; all key credit factors. Fitch believes the potential reputational risk and risk governance issues raised at JPM are no longer consistent with an 'AA-' rating.

The statement from Fitch argues that as long as the $2 billion loss was a one time thing, a "material idiosyncratic loss event," then the bank should be able to absorb it. They did say that JPM could be downgraded ene further though, unless the bank, "has addressed what Fitch views to be risk management and oversight deficiencies that allowed such a loss to occur."

Elsewhere, the Wall Street Journal is reporting that only two sell-side analysts have changed their tune on JP Morgan Chase stock. One company changed their recommendation from buy to hold, and another changed their opinion on JP Morgan's stock outlook to "market perform" from its previous ranking of "outperform." Things aren't exactly falling apart just yet, but this is what a bad day looks like for the most powerful bank on wall street.