More junk-rated US companies to default in Q1, Moody’s forecasts
By Matt Tracy (Reuters) – Defaults by U.S. companies with low junk credit ratings are likely to rise further in the first quarter of 2024, according to a Thursday report by credit…
Moody’s: Emerging market credit to be tight amid U.S.-led risks
LONDON (Reuters) – Emerging economies will continue to suffer from the spillover of economic problems in the U.S., which are restricting their market access and pushing up financing costs, a Moody’s report…
Storm clouds gather over highly indebted companies, Moody’s says
By Matt Tracy WASHINGTON (Reuters) – Credit ratings agency Moody’s Investors Service Inc said on Wednesday it has pushed more highly indebted companies to the bottom of its junk ratings barrel and…
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…
IMF bailout not a silver bullet for Sri Lanka, says Moody’s Analytics
By Swati Bhat and Uditha Jayasinghe MUMBAI (Reuters) – Sri Lanka has a difficult road ahead irrespective of how much funding it receives from multilateral and global financial agencies, a senior economist…
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…
S&P, Moody’s positive on Saudi Arabia’s non-oil reforms
(Reuters) – S&P Global on Friday raised its sovereign rating on Saudi Arabia to “A/A-1”, citing expected reform and diversification plans to boost development of the kingdom’s non-oil sector and shift dependence…
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…
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…
Chile’s tax reform rejection could raise debt, Moody’s says
(Reuters) – Chile’s rejection of a tax reform put forward by leftist President Gabriel Boric will complicate the country’s process of fiscal consolidation and gradually push up the country’s debt, a Moody’s…
Climate change could cost Latin America 16% of GDP this century, says Moody’s
MEXICO CITY (Reuters) – Climate change could cost Latin America nearly a fifth of its gross domestic product (GDP) by the end of the century without new policies to curb its impact,…
Moody’s slashes Pakistan’s rating amid payment crisis
(Reuters) – Global ratings agency Moody’s cut Pakistan’s sovereign credit rating by two notches to ‘Caa3’ on Tuesday amid international loan negotiations, saying the country’s increasingly fragile liquidity “significantly raises default risks.”…
Citi’s high deposit betas to squeeze interest margins – Moody’s
By Mehnaz Yasmin (Reuters) – Citigroup Inc may see more net interest margin (NIM) pressure than the other four big U.S. banks this year due to its high deposit betas, or the…
U.S. corporate default rate to rise in 2023 -Moody’s
By Matt Tracy (Reuters) – Moody’s Investors Service expects the U.S. corporate debt default rate to accelerate to nearly 6% by year-end from 2% in 2022, it said in a report on…
Peru’s key financial institutions remain resilient amid political turmoil – Moody’s analyst
LIMA (Reuters) – Peru’s key economic and financial institutions remain resilient to political volatility, Moody’s analyst Jaime Reusche said Thursday after the country impeached and arrested one president and welcomed another in…
Moody’s sees ‘very high’ foreign exchange risk for banks in Ukraine, Turkey
LONDON (Reuters) – Banks in countries such as Ukraine and Turkey face a “very high” risk from restrictions on capital flows, weak international reserves and a high level of foreign currency debt,…
Moody’s sees debt loads of large Latin American sovereigns likely staying high
MEXICO CITY (Reuters) – Moody’s Investors Service on Wednesday said the debt loads of large Latin American sovereigns will likely stay high, constraining governments’ ability to support economic growth. The ratings agency added…
Credit outlook darkens for non-financial companies, Moody’s says
By Juliette Portala (Reuters) – The outlook for credit conditions next year for non-financial companies in Europe, Middle East and Africa is negative, credit rating agency Moody’s said on Monday, as financing…
Moody’s changes Renault’s outlook to “stable” from “negative”
PARIS (Reuters) – Moody’s Investors Service said on Friday it changed the outlook on French carmaker Renault’s ratings to stable from negative to reflect prospects of improved profitability from its strategic plan.…
Britain’s budget plan restores credibility but risks remain -Moody’s
LONDON (Reuters) – Britain’s budget plan for tax increases and tighter public spending announced on Thursday goes some way to restoring the country’s economic credibility, but risks remained due to the tough…
Moody’s cuts India’s 2022 GDP growth forecast to 7%, sees 2023 growth at 4.8%
MUMBAI (Reuters) – Rating agency Moody’s cut India’s growth projections for the current and next calendar year due to higher inflation, high interest rates and slowing global growth that, it believes, will…
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…
Moody’s cuts UK outlook to ‘negative’ over political turmoil
(Reuters) -Ratings agency Moody’s on Friday lowered the United Kingdom’s outlook to “negative” from “stable” over ongoing political turmoil, weaker growth prospects and high inflation. Moody’s maintained its sovereign rating for the…
Rate hikes to have limited impact on Indian banks’ profits – Moody’s
BENGALURU (Reuters) – The Reserve Bank of India’s slew of rate hikes this year to combat surging inflation will help lift banks’ net interest margins, but the increase will be limited as…
Moody’s withdraws ratings of China’s Evergrande and Kaisa
(Reuters) – Moody’s on Tuesday said it withdrew the ratings of property developers China Evergrande Group and Kaisa Group because of insufficient information. Moody’s said it also withdrew its ratings on Evergrande’s…
Moody’s says Credit Suisse could suffer $3 billion loss in 2022
By Saeed Azhar NEW YORK (Reuters) – Rating agency Moody’s Investors Service expects losses for Credit Suisse to swell to $3 billion by year-end, potentially bringing its core capital below the key…
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