STOCKHOLM/OSLO (Reuters) - Moody's Investor Service downgraded credit ratings of three large Nordic banks on Friday, citing their reliance on market funding, tough competition for retail loans, and their exposure to the spreading euro zone debt crisis.
Moody's Investor Service downgraded credit ratings of three large Nordic banks on Friday, citing their reliance on market funding, tough competition for retail loans, and their exposure to the spreading ...
Moody’s Investors Service cut its ratings on four of the biggest U.S. banks after deciding the government would be less likely to help them repay creditors in a crisis.
Morgan Stanley, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Bank of New York Mellon Corp. had their senior holding company ratings lowered one level yesterday after Moody’s concluded a review of eight U.S. banks that began in August. Spokesmen for the four companies declined to comment.
CALGARY – A day after Alberta’s finance minister said he would make the case for holding the province’s credit ratings steady, DBRS Ltd. downgraded the province’s debt.
Citing Alberta’s large expected deficit this year and in the future, DBRS downgraded the province’s issuer and long-term debt rating from triple-A to double-A on Friday afternoon.
Both DBRS and Standard and Poor’s have now cut the province’s credit rating, leaving just Moody’s Investor Service holding an triple-A rating on the province’s debt — though even that rating is now under pressure.
Even before Glencore made a dramatic appearance on the world's distressed commodity trader stage in late August, Zero Hedge readers were familiar with its Asian cousin, Noble Group, also known as Asia's largest commodity trader, a name we covered in our August 18 report "Noble Group’s Kurtosis Awakening Moment For The Commodity Markets."
Moody's downgraded Credit Agricole, BNP Paribas, and Societe Generale today. This is fresh on the heels of a September downgrade of Credit Agricole and Societe Generale in September.
Please consider French bank ratings downgraded again by Moody's
Credit rating agency Moody's has downgraded France's three big banks due to their difficulty borrowing money. The agency cut Credit Agricole and BNP Paribas from Aa2 to Aa3, and Societe Generale from Aa3 to A1.
With Japan's public debt about to hit 240% of GDP, Fitch Downgrades Japan's Sovereign Rating
The ratings agency Fitch on Tuesday lowered its assessment of Japan’s sovereign credit to A+, an investment grade just above the likes of Spain and Italy, and criticized Tokyo for not doing more to pare down its burgeoning debt.
Citing "continuing weakness in the medium-term growth outlook," Moody's has downgraded France: *FRANCE CUT TO Aa2 FROM Aa1 BY MOODY'S, OUTLOOK TO STABLE Apearing to blame The EU's "institutional and political constraints," Moody's expects French growth to be at most 1.5% and does not expect the debt burden to be materially reduced this decade.