Credit rating agencies http://www.globalpost.com/taxonomy/term/25182/all en UPDATE 2-Fitch downgrades S.Africa, cites political tensions http://www.globalpost.com/dispatch/news/thomson-reuters/130110/update-2-fitch-downgrades-safrica-cites-political-tensions <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Prospects for Africa's biggest economy deteriorated - Fitch</p> <p>* Fitch move expected after S&amp;P cut in October</p> <p>By Daniel Bases and Caryn Trokie</p> <p>NEW YORK, Jan 10 (Reuters) - Fitch Ratings on Thursday cut South Africa's sovereign credit rating to BBB from BBB-plus, citing rising social and political tensions and the inability of the government to implement effective reforms.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130110/update-2-fitch-downgrades-safrica-cites-political-tensions" target="_blank">read more</a></p> Business Credit Credit rating agencies Fitch Group Fitch Ratings Social Issues Technology Thomson Reuters Thu, 10 Jan 2013 19:45:15 +0000 5732812 at http://www.globalpost.com UPDATE 1-S&P to offer only basic rating on Turkey http://www.globalpost.com/dispatch/news/thomson-reuters/130114/update-1-sp-offer-only-basic-rating-turkey <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>ISTANBUL, Jan 14 (Reuters) - Credit-rating agency Standard &amp; Poor's said on Monday that it no longer has a ratings deal with Turkey but it will still offer an overall assessment of the fast-growing economy to meet investor interest.</p> <p>The agency said it had converted its ratings on Turkey to "unsolicited" -- meaning that it is not paid by the country to provide cover but does so anyway.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130114/update-1-sp-offer-only-basic-rating-turkey" target="_blank">read more</a></p> Credit rating agencies Credit rating agency Financial economics Standard & Poor's Thomson Reuters Mon, 14 Jan 2013 15:15:29 +0000 5734183 at http://www.globalpost.com CORRECTED-UPDATE 2-Months after spat, Turkey and S&P fail on ratings deal http://www.globalpost.com/dispatch/news/thomson-reuters/130115/corrected-update-2-months-after-spat-turkey-and-sp-fail-ratings <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>(Clarifies in paragraph 3 of Jan 14 story that S&amp;P's ratings withdrawals apply to individual sovereign Turkish debt issues.)</p> <p>* S&amp;P no longer paid by Turkey</p> <p>* Turkey reacted angrily to downward revision</p> <p>* Junk rating seen as unjustified</p> <p>By Seltem Iyigun</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130115/corrected-update-2-months-after-spat-turkey-and-sp-fail-ratings" target="_blank">read more</a></p> Credit rating agencies Finance Financial economics S&P Thomson Reuters Mon, 14 Jan 2013 17:00:32 +0000 5734249 at http://www.globalpost.com Life insurers eye Asia deals to boost profit - Moody's http://www.globalpost.com/dispatch/news/thomson-reuters/130128/life-insurers-eye-asia-deals-boost-profit-moodys <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>LONDON, Jan 28 (Reuters) - European and U.S. life insurers will seek takeovers in booming Asia and put more money into riskier assets this year to bolster flagging profits, Moody's said on Monday.</p> <p>The outlook for developed world life insurers is negative, Moody's said in its annual overview of the sector, with investment income under pressure from rock-bottom rates, and sales wilting as stagnant economies force consumers to retrench.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130128/life-insurers-eye-asia-deals-boost-profit-moodys" target="_blank">read more</a></p> Credit rating agencies Financial economics Investment Moody's Politics Thomson Reuters Mon, 28 Jan 2013 17:15:03 +0000 5740580 at http://www.globalpost.com UPDATE 2-U.S. government slams S&P with $5 bln fraud lawsuit http://www.globalpost.com/dispatch/news/thomson-reuters/130205/update-1-us-govt-slams-sp-5-billion-fraud-lawsuit <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* First lawsuit by U.S. govt against a ratings agency</p> <p>* One of biggest cases yet related to financial crisis fallout</p> <p>* S&amp;P's alleged conduct "egregious" - US attorney general</p> <p>* S&amp;P pledges to defend itself vigorously</p> <p>* 119-page lawsuit was filed late Monday (Adds details from complaint, statement from Levin, background)</p> <p>By Aruna Viswanatha and Lauren Tara LaCapra</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130205/update-1-us-govt-slams-sp-5-billion-fraud-lawsuit" target="_blank">read more</a></p> Credit rating agencies Finance Financial economics Politics S&P Thomson Reuters Tue, 05 Feb 2013 17:45:51 +0000 5746655 at http://www.globalpost.com UPDATE 3-U.S. government hits S&P with $5 bln fraud lawsuit http://www.globalpost.com/dispatch/news/thomson-reuters/130205/update-3-us-government-hits-sp-5-bln-fraud-lawsuit <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* First lawsuit by U.S. govt against a ratings agency</p> <p>* One of biggest cases yet related to financial crisis fallout</p> <p>* S&amp;P's alleged conduct "egregious" - US attorney general</p> <p>* S&amp;P pledges to defend itself vigorously</p> <p>* S&amp;P parent McGraw-Hill sees shares fall 23 pct in 2 days (Adds comments from legal expert, comment from Holder, details from complaint)</p> <p>By Aruna Viswanatha and Lauren Tara LaCapra</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130205/update-3-us-government-hits-sp-5-bln-fraud-lawsuit" target="_blank">read more</a></p> Credit rating agencies Finance Financial economics Politics S&P Thomson Reuters Tue, 05 Feb 2013 22:15:40 +0000 5746941 at http://www.globalpost.com US sues S&P for $5 bn over inflated ratings http://www.globalpost.com/dispatch/news/afp/130205/us-sues-sp-5-bn-over-inflated-ratings <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The US Justice Department said Tuesday it is seeking at least $5 billion in civil penalties from Standard &amp; Poor's for losses due to inflated ratings of mortgage bonds.</p> <p>Announcing a suit against S&amp;P and its parent, The McGraw-Hill Companies, Attorney General Eric Holder said the powerful rating agency knowingly exaggerated the ratings on financial securities, misrepresenting their true credit risk.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130205/us-sues-sp-5-bn-over-inflated-ratings" target="_blank">read more</a></p> Credit rating agencies Financial economics Investment Standard & Poor's AFP Tue, 05 Feb 2013 23:01:03 +0000 5746989 at http://www.globalpost.com Moody's says no knowledge of possible government suit http://www.globalpost.com/dispatch/news/afp/130208/moodys-says-no-knowledge-possible-government-suit <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Credit-ratings company Moody's doesn't believe it is the subject of any "impending" US lawsuit over its ratings of mortgage bonds ahead of the 2008 crisis, the company's chief executive said Friday.</p> <p>Moody's chief executive Ray McDaniel characterized recent interactions with regulators as routine, after repeated questions from analysts on an earnings conference call about the Department of Justice's lawsuit against larger peer, Standard &amp; Poor's.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130208/moodys-says-no-knowledge-possible-government-suit" target="_blank">read more</a></p> Companies listed on the New York Stock Exchange Credit rating agencies Moody's Moody's Investors Service AFP Fri, 08 Feb 2013 18:16:09 +0000 5750416 at http://www.globalpost.com New York probing rating firms: source http://www.globalpost.com/dispatch/news/afp/130208/new-york-probing-rating-firms-source <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The New York attorney general has launched a probe into the mortgage bond rating practices of major ratings firms as a factor in the 2008 financial crisis, a person close to the investigation said Friday.</p> <p>The New York probe will look at the ratings of mortgage securities by Standard &amp; Poor's, Moody's and Fitch. Those ratings have been criticized for being overly positive and downplaying risk to investors ahead of the 2008 crisis.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130208/new-york-probing-rating-firms-source" target="_blank">read more</a></p> Companies listed on the New York Stock Exchange Credit rating agencies Entertainment Financial economics AFP Fri, 08 Feb 2013 20:45:51 +0000 5750557 at http://www.globalpost.com US S&P suit points to ratings industry's role in crisis http://www.globalpost.com/dispatch/news/afp/130209/us-sp-suit-points-ratings-industrys-role-crisis <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The US government's $5 billion lawsuit against Standard &amp; Poor's for exaggerating mortgage bond ratings in 2007 has cast a pall over the ratings industry and exposed its role in the financial crisis.</p> <p> S&amp;P competitors Moody's and Fitch find themselves potentially facing penalties after the Justice Department alleged S&amp;P knowingly kept ratings on high-risk mortgage securities high in order to win revenues from issuers.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130209/us-sp-suit-points-ratings-industrys-role-crisis" target="_blank">read more</a></p> Business Companies listed on the New York Stock Exchange Credit rating agencies Labor Law Moody's Investors Service Standard & Poor's AFP Sun, 10 Feb 2013 03:31:11 +0000 5751498 at http://www.globalpost.com Moody's downgrades Egypt bond rating to B3 http://www.globalpost.com/dispatch/news/afp/130212/moodys-downgrades-egypt-bond-rating-b3 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Credit-ratings agency Moody's said on Tuesday it has downgraded Egypt's government bond ratings by one notch from B2 to B3, citing the intensification of civil unrest and sliding foreign exchange reserves.</p> <p>Moody's also said it is maintaining the rating on review for further possible downgrade.</p> <p>It said the main factor behind Tuesday's one-notch downgrade "is the country's ongoing unsettled political conditions and recent escalation of civil unrest in the form of violent clashes between protesters and security forces, resulting in many deaths."</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130212/moodys-downgrades-egypt-bond-rating-b3" target="_blank">read more</a></p> Africa Arab world Credit rating agencies Moody's AFP Tue, 12 Feb 2013 18:15:32 +0000 5753763 at http://www.globalpost.com URGENT ¥¥¥ Moody's downgrades Britain from AAA to Aa1 http://www.globalpost.com/dispatch/news/afp/130222/urgent-moodys-downgrades-britain-aaa-aa1 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Rating agency Moody's cut Britain's debt rating Friday by one notch from the top-grade AAA to Aa1, citing slow growth and a rising debt burden.</p> <p>The main driver for the downgrade, Moody's said, "is the increasing clarity that, despite considerable structural economic strengths, the UK's economic growth will remain sluggish over the next few years."</p> <p>pmh/vs</p> Companies listed on the New York Stock Exchange Credit rating agencies Financial economics Moody's AFP Fri, 22 Feb 2013 22:00:31 +0000 5763840 at http://www.globalpost.com Britain loses AAA rating in Moody's downgrade http://www.globalpost.com/dispatch/news/afp/130222/britain-loses-aaa-rating-moodys-downgrade <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Rating agency Moody's cut Britain's debt rating Friday by one notch from the top-grade AAA to Aa1, citing slow growth and a rising debt burden.</p> <p>Moody's also cut its AAA rating for the country's central bank, the Bank of England, by one step, also to Aa1.</p> <p>The main driver for the sovereign downgrade, Moody's said, "is the increasing clarity that, despite considerable structural economic strengths, the UK's economic growth will remain sluggish over the next few years."</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130222/britain-loses-aaa-rating-moodys-downgrade" target="_blank">read more</a></p> Companies listed on the New York Stock Exchange Credit rating agencies Financial economics Moody's AFP Fri, 22 Feb 2013 22:16:02 +0000 5763857 at http://www.globalpost.com Britain loses AAA rating in Moody's downgrade http://www.globalpost.com/dispatch/news/afp/130222/britain-loses-aaa-rating-moodys-downgrade-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Rating agency Moody's cut Britain's debt rating Friday by one notch from the top-grade AAA to Aa1, citing slow growth and a rising debt burden.</p> <p>Moody's also cut its AAA rating for the country's central bank, the Bank of England, by one step, also to Aa1.</p> <p>The main driver for the sovereign downgrade, Moody's said, "is the increasing clarity that, despite considerable structural economic strengths, the UK's economic growth will remain sluggish over the next few years."</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130222/britain-loses-aaa-rating-moodys-downgrade-0" target="_blank">read more</a></p> Companies listed on the New York Stock Exchange Credit rating agencies Financial economics Moody's AFP Fri, 22 Feb 2013 22:45:51 +0000 5763880 at http://www.globalpost.com Downgrade stark reminder of British debt problems: minister http://www.globalpost.com/dispatch/news/afp/130222/downgrade-stark-reminder-british-debt-problems-minister <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>British finance minister George Osborne said Friday that the decision by ratings agency Moody's to downgrade Britain's AAA status was a stark reminder of Britain's massive debt burden.</p> <p>"Tonight we have a stark reminder of the debt problems facing our country -- and the clearest possible warning to anyone who thinks we can run away from dealing with those problems," Osborne said in a statement.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130222/downgrade-stark-reminder-british-debt-problems-minister" target="_blank">read more</a></p> Companies listed on the New York Stock Exchange Credit rating agencies Moody's Investors Service AFP Fri, 22 Feb 2013 22:45:54 +0000 5763882 at http://www.globalpost.com