Fitch sees high US fiscal deficits ahead of elections
By Davide Barbuscia and Matt Tracy NEW YORK (Reuters) – Credit rating agency Fitch said on Wednesday it expects U.S. fiscal deficits to remain high …
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Fitch no longer expects a US recession, forecasts three rate cuts
NEW YORK (Reuters) – Credit rating agency Fitch no longer forecasts a U.S. recession this year due to several signs of strength in the economy, …
Abercrombie & Fitch lifts holiday sales forecast on robust demand
(Reuters) -Abercrombie & Fitch on Monday raised its forecast for fourth-quarter and annual net sales, after strong demand for its apparel brands during the key …
Fitch downgrades Wanda Commercial to “restricted default”, then upgrades to “CC”
HONG KONG (Reuters) – Fitch Ratings downgraded Dalian Wanda Commercial Management Group to “restricted default (RD)” from “C” on completion of the distressed debt exchange, …
Moody’s and Fitch say Chile’s polarization, social demands persist after constitution vote
SANTIAGO (Reuters) – A vote in Chile to reject a new constitution on Sunday reduced regulatory uncertainty but does not resolve social discontent or political …
Fitch says China 2024 outlook neutral, but debt challenges mount
BEIJING (Reuters) – Fitch Ratings said on Wednesday that its outlook for China in 2024 was neutral, but the country would continue to see headwinds …
Fitch cuts Swedish SBB rating over tight liquidity, weak market
By Louise Rasmussen COPENHAGEN (Reuters) – Fitch on Wednesday downgraded Swedish property company SBB’s long-term issuer default rating to CCC+ from B-, and its senior …
Cyberattack on ICBC’s US unit to not have material impact on parent bank – Fitch
(Reuters) – Ratings agency Fitch on Thursday said the recent cyberattack at ICBC Financial Services will not have a material impact on its Chinese parent, …
Fitch plans to withdraw ratings of Country Garden Services
(Reuters) – Global ratings agency Fitch said on Monday it plans to withdraw all the ratings on China’s Country Garden Services Holding on or about …
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 …
Fitch warns it may be forced to downgrade multiple banks, including JPMorgan – CNBC
(Reuters) – An analyst at Fitch Ratings warned that U.S. banks, including JPMorgan Chase, could be downgraded if the agency further cuts its assessment of …
Fitch US downgrade followed protocols, despite timing questions
By David Lawder and Davide Barbuscia WASHINGTON (Reuters) – When Fitch Ratings dropped its bombshell downgrade of the U.S. credit rating on Tuesday, Biden administration …
US Treasury yields edge lower after Fitch downgrade
By Kevin Buckland TOKYO (Reuters) – U.S. Treasury yields edged down in Tokyo on Wednesday after ratings agency Fitch lowered the country’s top credit rating. …
Fitch upgrades Pakistan’s sovereign rating to CCC after IMF deal
By Asif Shahzad ISLAMABAD (Reuters) – Fitch credit rating agency on Monday upgraded Pakistan’s long-term foreign currency issuer default rating to CCC from CCC-, a …
Fitch raises India FY24 GDP forecast to 6.3% on strong growth momentum
MUMBAI (Reuters) – Fitch Ratings raised its growth forecast for the Indian economy to 6.3% for the current fiscal year, from 6% earlier, on the …
Fitch keeps its negative slant on UK credit rating
LONDON (Reuters) – Ratings agency Fitch on Friday stuck with its negative outlook for Britain’s sovereign credit rating, citing a weak economy and lingering uncertainty …
Fitch puts multiple US govt-linked securities on negative watch as debt deadline looms
(Reuters) – Ratings agency Fitch on Friday placed a raft of U.S. government-related securities on watch for a possible downgrade, as talks over the debt …
Fitch puts Fannie Mae, Freddie Mac on negative watch as US debt deadline looms
(Reuters) – Fitch has placed the ratings of U.S. mortgage finance giants Fannie Mae and Freddie Mac on watch for a possible downgrade as U.S. …
Marketmind: Fitch puts US on watch; will it matter in Washington?
A look at the day ahead in European and global markets from Sonali Desai. The U.S. debt ceiling saga continues to hang over global markets, …
Fitch cuts France’s rating to ‘AA-‘, revises up outlook to stable
(Reuters) – Fitch cut France’s sovereign credit rating on Friday by one notch to ‘AA-‘, saying a potential political deadlock and social unrest posed risks …
First Republic’s strategic options “very challenging” – Fitch
By Saeed Azhar NEW YORK (Reuters) – First Republic Bank’s strategic options are “very challenging” because any potential sale is unlikely without the lender taking …
Rising rates put pressure on U.S. insurers’ reserves, Fitch says
NEW YORK (Reuters) – Rising interest rates are eating into the reserves that U.S. life insurers must hold to deal with rate fluctuations, ratings agency …
Fitch says APAC banks resilient to risks highlighted by U.S. bank failures
(Reuters) – Ratings agency Fitch said on Thursday that direct exposures to Silicon Valley Bank <SIVB.O> and Signature Bank among its portfolio of rated banks …
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 …
Peru mining firms’ logistics at risk from extended protests, Fitch says
(Reuters) – Mining companies operating in Peru face “material risk” amid extended protests and blockades in the world’s No. 2 copper-producing nation, Fitch Ratings said …
Abercrombie & Fitch posts a fall in quarterly profit
(Reuters) – Abercrombie & Fitch Co on Wednesday reported a 41.5% drop in quarterly profit, as higher labor costs and inflationary pressures squeezed margins. The …
Fitch raises China’s growth forecast to 5% for 2023
(Reuters) – Rating agency Fitch has revised its forecast for China’s economic growth in 2023 to 5.0% from 4.1% previously as consumption and broader activity …
Fitch affirms China ratings at ‘A+’
(Reuters) – Fitch Ratings affirmed China’s ratings at ‘A+’ with a stable outlook on Thursday. Fitch forecasted China’s economy to grow by 4.1% in 2023, …
Sub-Saharan Africa’s debt pressures to continue to rise – Fitch
By Rachel Savage JOHANNESBURG (Reuters) – The external debt service burden in Sub-Saharan Africa will continue to climb in the coming years, ratings agency Fitch …
Fitch affirms United Kingdom rating at ‘AA-‘
(Reuters) – Rating agency Fitch maintained United Kingdom’s sovereign debt rating at “AA-” on Friday, citing Prime Minister Rishi Sunak’s macroeconomic policy framework, deep capital …
Indian banks’ loan growth to accelerate despite higher interest rates -Fitch
BENGALURU (Reuters) – Loan growth at Indian banks will accelerate to 13% in this fiscal year despite the RBI raising interest rates, as economic activity …
More small emerging market defaults ‘probable’ in 2023 – Fitch
JOHANNESBURG (Reuters) -More sovereign defaults are “probable” next year among small emerging market countries, ratings agency Fitch said in its 2023 outlook on Monday, citing …
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 …
Fitch affirms Mexico at ‘BBB-‘, notes “prudent” policies alongside muted growth
By Anthony Esposito MEXICO CITY (Reuters) – Fitch Ratings on Friday affirmed Mexico’s long-term local-currency and foreign-currency issuer default rating (IDR) at ‘BBB-‘, with a …
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 …
Nigeria’s debt service costs to remain elevated in medium term -Fitch
By MacDonald Dzirutwe LAGOS (Reuters) – Nigeria’s debt service costs will remain elevated in the short to medium term, which will hobble the country’s ability …
Fitch sees increasing chances of BOK scaling back to 25-bp in Nov
SEOUL (Reuters) – Chances are increasing for the Bank of Korea to scale back to a 25-basis-point rate hike in November, a Fitch Ratings official …
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’, …
Fitch cuts Pakistan’s sovereign credit rating to ‘CCC+’ from ‘B-‘
(Reuters) -Global ratings agency Fitch cut Pakistan’s sovereign credit rating on Friday by a notch to ‘CCC+’ from ‘B-‘, citing further deterioration in the country’s …
African banks face ‘very difficult’ 12-18 months, Fitch official says
ACCRA (Reuters) – The next 12 to 18 months will be “very difficult” for African banks as widespread inflation, currency devaluations and interest rate hikes …
Mexico’s economy seen reaching pre-pandemic levels in 2023, lagging peers -Fitch
MEXICO CITY (Reuters) – Mexico’s economy is forecast to finally claw its way back to pre-pandemic levels sometime next year, ratings agency Fitch Ratings said …
Fitch upgrades rating on Ukraine to ‘CC’
(Reuters) – Ratings agency Fitch on Wednesday upgraded Ukraine’s rating to ‘CC’ from ‘Restricted Default’ following the country’s restructuring of external debt last week. Ukraine’s …
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’ …
Fitch raises United States’ outlook to ‘stable’ from ‘negative’
(Reuters) – Global ratings agency Fitch on Friday raised United States’ outlook to “stable” from “negative” on improved near-term government debt dynamics, driven by a …
Emerging markets with twin 4% deficits to hit record – Fitch
By Rachel Savage LONDON – The share of emerging markets with budget and current account deficits of 4% of GDP or more is set to …
Fitch withdraws ratings on debt-laden China Evergrande, subsidiaries
HONG KONG – Fitch Ratings said on Thursday it has decided to withdraw its rating on embattled property developer China Evergrande Group and two of …
Fitch withdraws Russian banks’ ratings
(Reuters) – Rating agency Fitch said on Tuesday it has withdrawn its ratings of 27 Russian banks, four of their affiliates and related financing special …
Fitch withdraws Russia’s ratings to comply with EU sanctions
– Fitch said on Friday it has withdrawn Russia’s ratings to comply with European Union sanctions, after the rating agency downgraded the country’s rating to …
Fitch revises Japan’s outlook to stable
– Rating agency Fitch on Friday revised its outlook on Japan’s long-term foreign-currency issuer default rating to stable from negative on Friday, citing confidence in …
Fitch to withdraw ratings on all Russian entities
– Fitch will withdraw ratings on all Russian entities and their subsidiaries in order to comply with European Union sanctions, the ratings agency said on …