Australia’s Domino’s Pizza plummets on withdrawing annual outlook, rating downgrades
By Himanshi Akhand (Reuters) – Shares in Australia’s Domino’s Pizza Enterprises posted a record drop on Thursday, after the retail food outlet operator withdrew its fiscal 2024 outlook and its first-half profit…
Moody’s downgrades Egypt deeper into junk territory
(Reuters) – Moody’s on Thursday downgraded Egypt’s credit rating by a notch to ‘Caa1’ from ‘B3’, citing the country’s worsening debt affordability. Egypt has been facing an economic crisis with record inflation…
S&P Global downgrades Rite Aid on restructuring risk
(Reuters) – S&P Global Ratings on Tuesday downgraded Rite Aid Corp to “CCC-minus” from “CCC-plus” on increased risk from restructuring. The downgrade is based on the view that the company may pursue…
S&P downgrades Hawaiian Electric to ‘B-‘ as wildfires raise market-access worries
(Reuters) -The S&P Global Ratings on Thursday downgraded Hawaiian Electric Industries and all of its rated subsidiaries to ‘B-‘ from ‘BB-‘, citing the company’s likely inconsistent access to the capital markets in…
Another Major Credit Agency Downgrades Several US Banks
Another Major Credit Agency Downgrades Several US Banks Will Kessler on August 22, 2023 A major U.S. credit agency cut the ratings of multiple banks following a string of credit rating cuts…
Moody’s downgrades Hawaiian Electric’s credit to junk amid Maui wildfire scrutiny
(Reuters) – Ratings agency Moody’s Investors Service downgraded utility Hawaiian Electric Industries’s credit rating to junk status on Friday, the second such cut this week as investors worried about the company’s potential…
Fitch downgrades Ecuador’s foreign currency rating deeper into junk
(Reuters) – Global ratings agency Fitch downgraded Ecuador deeper into junk territory on Wednesday, citing financing risks arising from a significant deterioration in fiscal accounts as the country heads to polls. Ecuador’s…
U.S. Treasury found no currency manipulation in 2022, downgrades Swiss scrutiny
By David Lawder WASHINGTON (Reuters) – The U.S. Treasury on Friday said it found that no major U.S. trading partners had manipulated their currencies for an export advantage, adding it ended “enhanced…
Moody’s downgrades Poland’s mBank, confirms Bank Millennium
WARSAW (Reuters) – Moody’s has downgraded the long-term deposit ratings of mBank and changed the outlook to negative from “under review” citing risks stemming from the legacy of Swiss franc loans at…
BlackRock Investment Institute downgrades credit, favors short-term bonds for income
(Reuters) – BlackRock Investment Institute said on Monday it was downgrading credit and preferred short-term bonds for income, with strategists pointing to financial cracks from rapid interest rate hikes. “We stay risk-off:…
Moody’s downgrades credit ratings on First Republic Bank
(Reuters) – Ratings agency Moody’s on Friday downgraded the credit of First Republic Bank, citing deterioration in the bank’s financial profile and challenges faced by the lender due to increased reliance on…
Moody’s downgrades Signature Bank to junk, places six U.S. banks under review
(Reuters) – Ratings agency Moody’s on Monday downgraded the debt ratings of collapsed New York-based Signature Bank deep into junk territory and placed the ratings of six other U.S. banks under review…
Fitch downgrades and withdraws Signature Bank’s ratings
(Reuters) – Rating agency Fitch on Monday downgraded Signature Bank’s long-term corporate ratings to ‘D’ from ‘BBB+’ after state regulators closed the New York-based bank on Sunday. Signature Bank’s short-term corporate ratings…
Moody’s downgrades credit ratings on Silicon Valley Bank, SVB Financial
(Reuters) – Rating’s agency Moody’s on Friday downgraded the ratings of SVB Financial Group and its bank subsidiary, Silicon Valley Bank. Moody’s slashed its credit ratings on Silicon Valley Bank’s long-term local…
Fitch downgrades Mexico’s Unifin to ‘D’ on bankruptcy proceedings
MEXICO CITY (Reuters) -Fitch Ratings on Friday downgraded Mexican leasing firm Unifin Financiera’s long and short-term local and foreign currency issuer default ratings (IDRs) to ‘D’ from ‘RD’ due to the firm’s…
Fitch downgrades Telecom Italia to ‘BB-‘
(Reuters) -Ratings agency Fitch on Tuesday downgraded Telecom Italia’s credit rating to ‘BB-‘ from ‘BB,’ citing insufficient debt reduction in 2022. Fitch said its outlook for Italy’s biggest phone group was “negative,”…
S&P downgrades Credit Suisse Group, Moody’s cuts some ratings
ZURICH (Reuters) – S&P Global Ratings has downgraded Credit Suisse Group’s long-term issuer credit rating by one notch to BBB- and cut its view on main operating unit Credit Suisse AG and…
Fitch downgrades Argentina’s sovereign credit rating to ‘CCC-‘
By Adam Jourdan BUENOS AIRES (Reuters) – Ratings agency Fitch on Wednesday downgraded Argentina’s long-term sovereign credit rating by a notch to ‘CCC-‘ from ‘CCC’, citing deep macroeconomic imbalances and rising risks…
S&P downgrades Telecom Italia to ‘B+’ on weak macro environment
(Reuters) – S&P Global said on Friday it had cut the credit rating of Telecom Italia (TIM) to “B+” from “BB-” citing a weak macroeconomic environment. The credit rating agency said the…
Fitch downgrades Mexico’s Unifin on announced debt service cessation
MEXICO CITY – Fitch Ratings downgraded on Wednesday Mexican leasing firm Unifin’s long- and short-term foreign and local currency issuer default ratings (IDRs) to ‘C’ and ‘C’ from ‘BB-‘ and ‘B’ respectively,…
Moody’s downgrades Ukraine to “Caa3” on debt uncertainty
(Reuters) – Moody’s on Friday downgraded Ukraine’s foreign currency sovereign credit rating to “Caa3” from “Caa2”, with a negative outlook, citing increased risks to the government’s “debt sustainability” following Russia’s invasion. “While…
J.P.Morgan downgrades India’s IT sector as pandemic boom fades
(Reuters) – Soaring inflation, supply chain issues and the hit from the Ukraine war will bring an end to the growth boom India’s IT services industry enjoyed during the pandemic, J.P.Morgan analysts…
JPM downgrades Thailand on fading tourism recovery and worsening macro conditions
(Reuters) – Analysts at J.P. Morgan downgraded Thailand’s equities rating on Monday, citing the slow pace of recovery in the tourism industry due to rising inflation and a surge in COVID-19 cases…
UBS downgrades eurozone stocks on earnings risk
MILAN – The wealth management arm of Swiss bank UBS has downgraded euro zone equities to neutral citing the potential for negative economic and earnings growth revisions amid growing uncertainty following Russia’s…
Credit rating agency Scope downgrades Russia’s sovereign debt rating to ‘BB+’
– Credit rating agency Scope cut Russia’s sovereign debt ratings to BB+ on Tuesday and placed them under review for further downgrade, citing “severe strengthening” of the sanctions imposed on the country…
S&P Global warns of rating downgrades after Russia’s Ukraine invasion
LONDON – Russia’s invasion of Ukraine could cause a spate of credit rating downgrades S&P Global said on Friday, warning the global economy, and Europe especially, now faced a starkly different picture…
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