Moody's

Moody's Downgrades Chicago’s Credit Rating, Emanuel Comes out in Defense

Moody's Downgrades Chicago’s Credit Rating, Emanuel Comes out in Defense

On May 12, Moody's Investor Service downgraded the credit rating of Chicago city, leaving the city's municipal bounds at 'junk' status.

Moody's Investors Service is the bond credit rating business of Moody's Corporation, which provides international financial research on bonds issued by commercial and government entities. The company ranks the creditworthiness of borrowers using a ratings scale that measures expected investor loss in the event of default. In the present case, the agency has relegated the rating of the City of Chicago, the city's school system and the park district.

Reform policies to determine India's credit profile: Moody's

Reform policies to determine India's credit profile: Moody's

New Delhi: Reform measures undertaken by the government to accelerate growth and address fiscal and supply side constraints will determine India's sovereign credit profile, rating agency Moody's said today.

The declining inflation also calls for a policy rate cut to boost investments, it added.

"... Fiscal and structural reform policies will determine the extent to which accelerating growth will buttress the sovereign credit profile," it said in a report titled 'GDP Revisions Underscore Economic Strength, But Are Credit Neutral'.

In 2015, benign global oil prices are likely to keep India's inflation and current account pressures in check, the report said, adding "this could allow for more accommodative monetary policy which, in turn, would revive investment growth".

India likely to grow between 5-6% in 2015: Moody's

New Delhi - Indian economy is expected to pick up pace in 2015 and grow in the range of 5 to 6 percent, helped by strong domestic demand, rating agency Moody's said on Wednesday.

"India will have stronger GDP growth in 2015, which we forecast at 5-6 percent, up from around 5 percent in 2014," Moody's said in a report titled -- 2015 Outlook-Global Credit Conditions.

The country, it said, has benefited from a strong domestic demand base and diversified export markets that give protection from the effects of a slowing Chinese economy and muted growth in the euro zone and Japan.

Tata Steel's recent plans credit positive: Moody's

New Delhi - Tata Steel's decision to sell its long product business in the UK and its bank debt refinance plan will be credit positive and alleviate funding pressure, Moody's Investors Service said on Monday.

"The sale would be credit positive for Tata Steel UK Holdings (TSUKH) because it would dispose off loss-making assets, while its refinancing alleviates funding pressure for the next six years," the financial research firm said in its Credit outlook for the company.

"Moreover, having sorted most of TSUKH's challenges, Tata Steel, its parent, can now solely focus on growing its more profitable Indian business," it added.

RBI's LCR guidelines credit positive for banks: Moody's

Moody sMumbai: The Reserve Bank of India's recent guidelines on liquidity risk management is credit positive for banks, says a report.

The central bank last week issued the final Basel III framework on liquidity standards, which included guidelines on the minimum liquidity coverage ratio (LCR), liquidity risk monitoring tools and LCR disclosure standards.

The RBI said the liquidity coverage ratio (LCR) will be introduced in a phased manner with a requirement of 60 percent from January 2015.

The requirement would rise in equal steps to reach the minimum required level of 100 percent on January 1, 2019, it added.

Indian economy grew at 4.8% in Oct.-Dec. quarter: Moody’s

Moody sIndia's economy grew at 4.8 per cent in the October-December quarter of this financial year, according to global rating agency Moody's estimates.

Moody's, which released its estimated figures for the Indian economy ahead of official data, also said that the economy was unlikely to accelerate much in 2014, though risks have retreated on account of falling inflation and narrowing current account deficit (CAD).

Moody’s makes open offer to acquire additional 26.5% stake in ICRA Ltd

Moody’s makes open offer to acquire additional 26.5% stake in ICRA LtdGlobal credit rating agency Moody's has made a voluntary & conditional open offer to hike its stake in Indian rating agency ICRA Ltd to more than 50 per cent.

Moody's has offered Rs 530 crore ($85.4 million) for acquiring 26.5 per cent additional stake in the Indian rating agency. Currently, Moody's owns 28.5 per cent stake in ICRA. Thus, if it manages to acquire the additional stake, its holding in the Indian rating agency would soar to 55 per cent.

Moody's downgrades Sony's to junk status

Moody's downgrades Sony's to junk statusGlobal rating agency, Moody's Investors Service has downgraded the shares of Japanese electronics giant, Sony to speculative Ba1, or junk status.

Investors and analysts have remained calm even after the latest downgrade of the company. The rating means that the shares of the company are not advised for investment and this might affect a mass withdrawal by investors. A Sony representative said that the company is not facing any issues relating to cash flow and the company will provide knowledge as per the situation.

Cook County bond downgraded to A1 over pension liabilities

Cook County bond downgraded to A1 over pension liabilitiesGlobal rating's agency, Moody's Investors Service has announced its decision to downgrade general obligation rating for Cook County to A1 from Aa3 due to concerns over its increasing pension liabilities.

The credit ratings agency also said that it has maintained the negative outlook on the lower rating due to difficulties by the county for obtaining necessary pension reform through the state legislature. The agency said that the pension contributions were lower than the actuarially required contributions in the county.

Moody's upgrades UK’s banking sector to "stable" from "negative"

Moody's upgrades UK’s banking sector to "stable" from "negative"Global rating's agency, Moody's have said in a new report that it is upgrading its outlook on the UK banking system to "stable" from "negative" as the institutions strengthen their financial health.

US employers add 188,000 jobs in June: ADP

US employers add 188,000 jobs in June: ADP According to a new report, US employers added a total of 188,000 jobs in the month of June indicating that the US jobs market is recovering.

Private sector employers offered more appointments during the month than expected. This indicates that the economy is recovering but has raised concerns that the Federal Reserve might start cutting its stimulus package. There are concerns that a roll back in the stimulus might affect growth.

Moody's expresses concerns over high food inflation

Moody's expresses concerns over high food inflationGlobal ratings agency, Moody's Investors Service has expressed concerns over the high level of food inflation in India.

Moody's said that the high food inflation has a negative impact for the country’s sovereign ratings as it affects the whole economy and also influences economic growth rates and fiscal and current account deficits. Moody's Investors Service has maintained a "stable" outlook for the country even as some other agencies have downgraded the country into negative category.

Deficit and debt might impact India’s rating, warns Moody's

Deficit and debt might impact India’s rating, warns Moody'sGlobal ratings agency, Moody's has said that the India's credit rating might be affected by the government's high current account deficit and external debt.

The rating agency said that the high level of deficit and foreign debt increases the Indian economy's exposure to volatile foreign financial conditions. Moody's has given a rating of Baa3 with a stable outlook to India but warned that these factors could affect its credit rating.

India has over 50% chance of negative outlook getting confirmed: S&P

India has over 50% chance of negative outlook getting confirmed: S&PMoody's Investor Service reaffirmed its outlook for India's sovereign credit rating as stable, but another global ratings agency Standard & Poor's (S&P) has issued an analysis stating that saying India has more than 50 per cent likelihood of negative outlook getting confirmed.

The analysis revealed that in the past twenty-four years merely there was merely case in which a country's negative outlook had been reversed.

Recent reform measures won't improve India's credit profile: Moody’s

Recent reform measures won't improve India's credit profile: Moody’sIndian government's recent reform measures will not be able to improve the country's credit profile, ratings agency Moody's Investors Service says.

Despite the recent measure to rein in deficit, Moody's Investors Service has estimated that the country's fiscal deficit would exceed 5.1 per cent level in the current fiscal year.

The union government of India recently reduced subsidy on diesel by increasing its prices by Rs 5 per litre, and capped the number of subsidized LPG cylinders to six per annum per household.

Government measures fail to impress ratings agencies

Government measures fail to impress ratings agenciesThe recently announced slew of government measures failed to impress ratings agencies, with both Moody's and Standard & Poor's still suspicious about the new measures.

Moody's downgrade Germany on bailout concerns

Moody's downgrade Germany on bailout concernsInternational ratings agency, Moody's has downgraded Europe's largest economy, Germany citing concerns that Spain and Italy might require further bailouts.

The agency believes that the large bailouts that might be required by large economies of Spain and Italy will have to be backed by the Garman nation. The ratings agency also downgraded Luxembourg and the Netherlands adding to the pressure in the troubled Eurozone.

Moody's cuts outlook on Germany

Moody's cuts outlook on GermanyBrussels, July 24 - Moody's Investors Service late Monday lowered its outlook on top-rated Germany, the Netherlands and Luxembourg to negative from stable, citing increasing uncertainties about the euro debt crisis as a whole.

The rating agency said its decision is also based on the growing risk of a Greek exit from the euro, which would set off "a chain of financial sector shocks" and it is the single currency's top-rated states who are going to share the burden of support, reported Xinhua.

Moody's downgrades Italy debt rating

Moody's downgrades Italy debt ratingNew York, July 13: Ratings agency Moody's Investors Service has downgraded Italy's government bond rating two notches over concerns that the country is more likely to experience a further sharp increase in its funding costs or the loss of market access amid rising eurozone risks and deteriorated economic outlook.

The firm lowered Italy's bond rating to Baa2, two levels away from junk territory, from A3. The outlook remained negative, reported Xinhua.

Moody's cut ratings for world’s largest banks

Moody's cut ratings for world’s largest banksMoody's credit ratings agency has downgraded some of the world's largest banks amid continuing volatility in the capital markets around the world.

The rating agency downgraded 15 of the world's biggest banks on Thursday. It lowered the credit rating between 1 to 3 notches for several banks around the world. The agency believes that the banks face high risk due to their exposure to the volatile capital markets.




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