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Moody's downgrades Turkey outlook to 'negative'

Moody's rating agency on Thursday downgraded its outlook on Turkey to "negative", putting the country's investment-grade rating at risk, saying political uncertainty was affecting investor confidence and casting doubt over further reforms. The agency re-affirmed the country's current bond rating of Baa3, just one step above a so-called 'junk' level, which is out of bounds for many pension and savings funds seeking safer investments.

Moody's puts Russia on review for downgrade

Moody's put Russia's credit rating on review for a possible downgrade Friday, saying the Ukraine crisis could exacerbate its already troubled economy. The ratings agency's Investor Service said that if the review confirms that Russia's economic strength is being eroded by the situation, it could lead to a one-notch cut in the country's Baa1 rating. The current crisis "could significantly dampen investor sentiment for several years to come by adding to existing deterrents to investment posed by Russia's weak rule of law and high levels of corruption," Moody's said.

Moody's upgrades Spain's credit rating one notch

Moody's raised Spain's sovereign credit rating by one notch Friday, citing progress in reforms to put the economy on a more sustainable track. Moody's Investors Service upgraded the rating to Baa2 from Baa3, and gave the country a "positive outlook", suggesting the potential of a further upgrade. Spain has made faster-than-expected progress in rebalancing the economy away from real-estate investment, where a 2008 price bubble crash sent the economy reeling, towards exports, the ratings firm said.

Murky outlook remains for S. Korean brokerage sector: Moody's

SEOUL, Feb. 13 (Yonhap) -- Moody's Investors Service said Thursday that South Korea's brokerage sector will see its profitability continue to worsen down the road due to both cyclical and structural factors. The credit rating agency also said the country's move to change its regulatory framework for industry capitalization will entail new types of risks such as corporate credit lending.

Puerto Rico may face over $1 billion draw after downgrade-Moody's analyst

NEW YORK (Reuters) - Puerto Rico could face over $1 billion of obligations from swap collateral requirements and debt acceleration on variable rate or mandatory tender bonds following a downgrade by Moody's Investors Service on Friday, a Moody's analyst said. "Our assessment was that there could be over $1 billon of potential draws after a downgrade," Emily Raimes, the lead analyst for Puerto Rico at Moody's, told Reuters.

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."

Early spotlight on Portugal, France in new credit ratings calendar

By Marc Jones LONDON (Reuters) - Europe's new calendar for sovereign credit ratings, an EU measure to shine a light on the actions of ratings agencies, will in its busy first few weeks thrust the market spotlight on bailed-out Portugal and recently downgraded France. European Union rules came into force this month requiring Standard and Poor's, Moody's, Fitch and other credit ratings agencies that operate in Europe for the first time to lay out the dates on which they review a country's rating.

Standard & Poor's downgrades European Union's credit rating, stripping it of AAA

BRUSSELS - The Standard However, Friday's one notch downgrade to AA+ is unlikely to cause too many problems for the world's biggest trading bloc. Though a downgrade can sometimes make it more expensive to borrow money on bond markets, a rating of AA+ is still considered very solid. EU's Commissioner for Economic and Monetary Affairs Olli Rehn said he disagreed with the rating agency and insisted that "all member states have always and also throughout the financial crisis provided their expected contributions to the budget in full and in time."

Roundup: Philippine bourse recovers on bargain hunting

Roundup: Philippine bourse recovers on bargain hunting MANILA, Dec. 11 (Xinhua) -- Bargain hunting allowed the Philippine stock market to recover on Wednesday but investors remained lukewarm to local stocks especially after credit rating agency Moody's Investors Service warned that the country may lose its investment grade ratings. The bellwether Philippine stock exchange index gained 0.04 percent, or 2.34 points, to close at 5,888.74 on Wednesday, while the broader all-share index declined by 0.12 percent, or 4.20 points, to 3,608.38.

German shipping banks face $22 billion in losses: Moody's

FRANKFURT (Reuters) - Germany's leading shipping lenders face 16 billion euros ($22 billion) in credit losses in the coming year as a severe sector slump makes it increasingly difficult for shipowners to repay their loans, ratings agency Moody's said. Germany's eight major ship financiers have lent a total of 105 billion euros to the sector, a fifth of which are categorized as non-performing, Moody's said in a report.
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