The reported criminal investigation also prompted at least three analysts to downgrade their ratings for Goldman. Bank of America Merrill Lynch analyst Guy Moszkowski called the reports "a concern even if no charges ultimately result." In addition, the yield spread over Treasuries of Goldman Sachs' 5.375 per cent notes due in 2020 widened to about 206 basis points in heavy trading volume on Friday, from 184 basis points late on Thursday, according to MarketAxess. The criminal investigation came less than two weeks after Goldman was charged with civil fraud by the US Securities and Exchange Commission. Earlier this week, Goldman chief executive Lloyd Blankfein and other executives underwent cross-examination by lawmakers at a US Senate hearing on their role in trading mortgage-related products in 2007. Goldman, which is now facing one of the biggest crises in its 140-year history, is seeing its shares bear the brunt of the past two weeks' developments.