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Moody's downgrades Tunisia over political uncertainty

Agence France-PresseMay 30, 2013 08:39

International ratings agency Moody's downgraded Tunisia's sovereign debt rating one notch to Ba2 and placed it on negative outlook on Thursday, citing "persistent political uncertainty and the risk of instability." Moody's said the move, which follows its decision in February to drop the rating to Ba1, primarily reflected the political tensions plaguing the north African nation since its 2011 revolution. The other two factors were the fragile state of undercapitalised government-owned banks and external pressures on Tunisia's balance of payments and government finances.

Moody's raises outlook on US banking system

Agence France-PresseMay 28, 2013 15:01

Moody's Tuesday upgraded its outlook of the US banking system for the first time since 2008, citing improving US economic conditions that more than make up for the challenges of low interest rates. Moody's raised its outlook on the US banking system to "stable" from "negative," changing an outlook that had stood since the financial crisis. "Sustained GDP growth and improving employment conditions will help banks protect their now-stronger balance sheets," said Sean Jones, a Moody's associate managing director, in a statement.

Moody's raises outlook for US banking industry for first time in 5 years; cites better economy

The Canadian PressMay 28, 2013 14:45

NEW YORK, N.Y. - Moody's Investors Services has raised its outlook for the U.S. banking industry for the first time in five years, citing the improving economy and banks' stronger balance sheets. The rating agency said in a report issued Tuesday that sustained economic growth and a better jobs picture will help banks over the next 12 to 18 months. Moody's raised its outlook for the industry to "Stable" from "Negative." It had been "Negative" since 2008, the year the financial crisis struck.

Credit agency Moody's says violent strikes, factory disasters pose risk to Bangladesh rating

The Canadian PressMay 11, 2013 08:01

Moody's says garment factory disasters in Bangladesh and frequent, increasingly violent strikes pose risks to the country's credit rating. The ratings agency says Thursday that political tensions are damaging confidence in Bangladesh, which has a rating below investment grade. A general strike was called earlier this week by opposition political parties to protest the deaths of at least 29 people during street demonstrations Monday.

Moody's downgrades Slovenia, warns might need bailout

Agence France-PresseApril 30, 2013 14:46

The international ratings agency Moody's downgraded Slovenia on Tuesday to junk status, with a negative outlook, citing the state of the banking sector and a deterioration of the government's finances and warning that the eurozone member might need a bailout. Moody's said Slovenia's sovereign debt rating had been cut to "Ba1" from "Baa2", placing it in the speculative category, and added that uncertain funding prospects had heightened "the probability that external assistance will be needed". wai/gd

Moody's affirms Italy's rating, negative outlook

Agence France-PresseApril 26, 2013 19:01

Moody's affirmed Italy's government ratings and negative outlook Friday after the country's president named a prime minister in a bid to an end a two-month political impasse. The ratings agency said it was maintaining the government's Baa2 ratings and keeping the negative outlook, citing "the elevated risk that the Italian sovereign might lose investor confidence and, ultimately, access to private debt markets as a result of the political stalemate."

In update, Moody's maintains Germany's 'Aaa' rating

Agence France-PresseApril 18, 2013 03:46

The international ratings agency Moody's on Thursday issued a credit update of Germany, maintaining its top "Aaa" rating, albeit with a negative outlook, a day after rumours over a possible German downgrade had rocked European stock markets. The agency emphasised, however, that its annual credit report on Germany "is an annual update to the markets and does not constitute a rating action."

Moody's lowers China credit rating outlook

Agence France-PresseApril 16, 2013 09:16

Ratings agency Moody's cut China's credit outlook to stable from positive on Tuesday, citing concerns on the country's opaque local government debt, fast bank lending growth and stalled economic reforms. Moody's kept China's rating at Aa3, but the change in outlook means it does not expect to give China an upgrade over the next year to 18 months. It came a day after Beijing announced growth in the world's second-largest economy slowed to 7.7 percent in the first quarter, lower than market expectations.

Moody's: Settlement process positive for Turkey's credit rating

AsianetApril 12, 2013 14:51

Credit rating agency Moody's has said that a settlement process between Turkey and the terrorist Kurdistan Workers' Party (PKK) is a positive development for the country's credit rating.In a statement released on Thursday, Moody's, which is the only agency that hasn't raised Turkey's credit rating in recent months, said that the process will also increase the country's attractiveness for foreign investors.

Moody's dashes Irish upgrade hopes, cites Cyprus

Thomson ReutersMarch 28, 2013 05:00

DUBLIN (Reuters) - Credit agency Moody's dashed Irish hopes of an investment grade rating following a landmark 10-year bond issue, saying Cyprus' "unprecedented" bailout increased the risks associated with holding Irish debt. Moody's, the only agency that ranks Ireland's debt as 'junk', said on Thursday that, despite the country's "steady progress" in regaining market access, it was maintaining its Ba1 rating with a negative outlook due also to issues with the banking sector.