ZURICH, (Reuters) – Credit Suisse received its second rating downgrade this week. It is now under pressure from the troubled Swiss lender that has come under fire for a number of losses and scandals.

Fitch has downgraded Credit Suisse’s long-term issuer default rating from A- to BBB+. This is in response to execution risks. The bank is trying to recover after a series of bad events, which have led to a large-scale exodus among the board and executive ranks.

Fitch Ratings released a statement Wednesday saying that “the downgrade reflects Fitch’s view Credit Suisse’s poor operating profitability compare with peers’ highlights execution risk during group restructuring in a hard market environment and indicates challenges for the bank for strengthening its performance over 24 months as well for its risk governance.”

The change follows a downgrade on Tuesday by Standard & Poor’s (S&P), which lowered the bank’s credit rating to BBB from BBB+.

Fitch stated that Credit Suisse’s lower rating had now “sufficient headroom” to withstand periods of less profitability, if it maintains its franchise. It changed its outlook from negative to stable.

However, failure to execute the strategic turnaround that was announced by Antonio Horta Osorio last year would “indicate weaknesses within its business model” as it will put pressure on both its core wealth management and its investment banking franchise.

The downgrades further widen the gap between Credit Suisse and major rivals including UBS, which has an A- rating and stable outlook from Standard & Poor’s and an A+ rating with stable outlook from Fitch.