Connect to share and comment

Mexico gets credit rating lift from Moody's

Moody's credit agency raised the credit rating for Mexico by one notch on Wednesday lauding the country's ambitious reform programme. By moving the rating up one notch to 'A3', Moody's elevated Mexico to its top tier of lending nations just when a long list of other emerging economies are under acute financial pressure. In an unusually complimentary statement, the agency hailed "the structural reforms approved last year, which Moody's expects will strengthen the country's potential growth prospects and fiscal fundamentals."

Moody's downgrades Ukraine over escalating crisis

Rating firm Moody's on Friday downgraded Ukraine's sovereign debt rating a notch, citing the country's escalating "political crisis" and concerns about whether it will continue to have Russian financial support. Moody's cut the country's rating, already in speculative territory, to Caa2 from Caa1, and put the country on "negative outlook." The first driver for the downgrade "is the escalation and increasingly violent nature of the crisis that began with peaceful public protests in the capital city of Kiev in November 2013," Moody's Investors Service said in a statement.

Moody's downgrades Ukraine over escalating crisis

Rating firm Moody's on Friday downgraded Ukraine's sovereign debt rating a notch, citing the country's escalating "political crisis" and concerns about whether it will continue to have Russian financial support. Moody's cut the rating of Ukraine's debt, already ranked in speculative territory, to Caa2 from Caa1, and had assigned the country a "negative outlook." vs/pmh

Moody's cuts Sony's credit rating to junk

Moody's cut its credit rating on Sony to junk on Monday, saying the Japanese electronics giant had more work to do in repairing its battered balance sheet. The international ratings agency lowered its view of the company to Ba1 from Baa3, meaning its debt is now seen as below investment grade, a move that threatens to push up Sony's borrowing costs.

Moody's cuts Sony's credit rating to junk

Moody's cut its credit rating on Sony to junk on Monday, saying the Japanese electronics giant had more work to do in repairing its battered balance sheet. The international ratings agency lowered its view of the company to Ba1 from Baa3, meaning its debt is now seen as below investment grade, a move that threatens to push up Sony's borrowing costs.

Moody's maintains French debt rating

Moody's held its French credit rating at Aa1 Friday but maintained a negative outlook, days after President Francois Hollande announced a batch of business-friendly measures to fire up growth. The US agency affirmed the bond rating one notch below the top AAA rating. Moody's voiced scepticism about the reforms Hollande announced earlier this month, a "responsibility pact" which includes lowering labour taxes in exchanges for fresh hiring by companies.

Angry Geithner once warned S&P about U.S. downgrade: filing

By Jonathan Stempel (Reuters) - Former U.S. Treasury Secretary Timothy Geithner angrily warned the chairman of Standard & Poor's parent that the rating agency would be held accountable for its 2011 decision to strip the United States of its coveted "triple-A" rating, a new court filing shows.

New credit raters struggle to break stranglehold of 'big three'

By Marc Jones LONDON (Reuters) - For all the outrage over the role of the big three credit-rating firms in the financial crisis, they show no sign of losing their grip on the highly profitable industry. That has not stopped new contenders joining the 50 or so lesser-known rating firms that have long been trying to grab a bigger slice of the business.

Fitch downgrades Serbia, sees growth slowing

Rating agency Fitch downgraded Serbia by one notch and deeper into speculative rankings on Friday, saying that public finances were worsening and growth slowing. The rating agency, lowering the rating for long-term debt to "B+" from "BB-" but with a stable outlook, highlighted weak enforcement of tax collection and weak political will to introduce unpopular structural reforms.

Emerging markets launch ratings agency rival

ARC Ratings, five credit ratings agencies mainly from emerging markets, launched on Thursday a rival to the sector's main players including Fitch and Moody's. Pitching itself as a new international credit ratings agency, ARC hopes also to take clients from Standard & Poor's (S&P), which along with Fitch and Moody's, faced heavy criticism following the financial crisis.
Syndicate content