EMerging Equity
Credit Rating
Corporate Debt Defaults Explode To Catastrophic Levels Not Seen Since The Last Financial Crisis
By Michael Snyder If a new financial crisis had already begun, we would expect to see corporate debt defaults skyrocket, and that is precisely what is happening. As you will see below, corporate defaults are currently at the highest level that we have seen since 2009. A wave of bankruptcies is sweeping the energy industry, … Continue reading
China’s Credit Rating Outlook Lowered To Negative By Moody’s
The outlook on China’s credit rating was lowered from stable to negative by Moody’s Investors Service on Wednesday as they cite a weakening of fiscal metrics, a continuing fall in foreign exchange reserves, and uncertainty about implementation of reforms. According to Moody’s, the key drivers of China’s outlook revision are: The ongoing and prospective weakening of fiscal metrics, … Continue reading
Venezuela On Verge Of Default As Oil Prices Fall
The country with the world’s biggest crude reserves could default on its $122.9 billion external debt as early as this month. The plunge in oil prices puts Venezuela’s ability to pay creditors in doubt. Caracas is scheduled to make a $1.5 billion external bond repayment on February 26. Despite the crisis the country has managed … Continue reading
Brazil’s Credit Rating Cut To Junk Status By Standard & Poor’s
“US rating agency Standard & Poor’s downgraded Brazil’s credit rating to junk status on Wednesday, pointing to political turmoil in the country and the government’s failure to pull the economy out of recession,” RT reports. According to the news provider: … the rating agency warned about a possible downgrade less than two months ago, the move … Continue reading
Brazil Must Do More To Maintain Its Investment-Grade Rating If It Wants To Attract Foreign Capital, BlackRock Says
“The world’s biggest money manager said Brazil must do all that it takes to maintain its investment-grade credit rating if it wants to remain an attractive destination for foreign capital,” Bloomberg reports. Although BlackRock claims it wants to promote Brazil, most of its clients refuse to allocate towards this destination as the country remains at … Continue reading
Brazil Prepares For Mass Demonstrations On Sunday As Allegations Of Corruption Swamp Rousseff Government
“Brazil President Dilma Rousseff is poised to face another key test as allegations of corruption and incompetence swamp her government, and plummeting commodity prices sap the country’s economy,” Seeking Alpha reports. According to Bloomberg: As allegations of corruption and incompetence swamp Brazil’s government, and plummeting commodity prices sap its economy, hundreds of thousands of angry … Continue reading
Brazil’s Credit Rating Just Above Junk Status After Moody’s Downgrade
Moody’s rating agency, yesterday on August 11th, downgraded Brazil’s government bond rating to Baa3 from Baa2 (only one notch above a non-investment / speculative grade). Also the outlook on the rating has been changed from negative to stable. According to Bloomberg: The company’s decision to assign a stable outlook to Brazil’s rating, now at the lowest level … Continue reading
Russia To Launch A Rating Agency By Year End
Russia is planning to launch a rating agency by the end of this year. The Central Bank of Russia (CBR) reported, the initial capital would be around $52 million. The CBR said today in a statement the following: … credit rating agencies are one of the most important elements of the financial market infrastructure. Their activities … Continue reading
BRICS To Discuss Creating New Rating Agency In March – Brazilian Ambassador
The contact group of BRICS experts will meet in March to discuss the idea of establishing an independent rating agency, said Brazilian Ambassador to Russia Jose Vallim Antonio Guerreiro. The agency would become an alternative to the western ‘big three’. “A contact group on economic and trade issues is working at the expert level. The … Continue reading
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