Ratings Agencies

This tag is associated with 12 posts

China Ratifies The Freshly-Minted BRICS Bank

China has officially ratified the creation of the $100 billion New Development Bank (NDB), also known as the BRICS Bank, China’s state-run Xinhua news agency reports on Wednesday. China’s Parliament has ratified the creation of the $100 billion New Development Bank (NDB), also known as the BRICS Bank, China’s state-run Xinhua news agency reports on Wednesday. The BRICS grouping … Continue reading

Fitch Cuts Brazil’s Outlook To Negative Amid Fiscal Challenges

The outlook on Brazil’s credit rating was cut to negative by Fitch Ratings due to challenges in implementing fiscal adjustment amid a stalled economy, according to a statement released on Thursday. The ratings agency lowered its outlook on Brazil’s sovereign rating to negative from stable while keeping the country’s rating at BBB, which is the second-lowest investment grade. … Continue reading

BRICs Rating Agency Being Discussed At Expert Level, Russian Envoy Says

The establishment of an independent rating agency of the BRICs grouping of emerging economies — which comprises of Brazil, Russia, India, China, and South Africa — is being discussed at the expert level, Russian Foreign Ministry Ambassador-at-Large Vadim Lukov said on Friday, TASS news agency reports. The idea of establishing the BRICs rating agency — an alternative to … Continue reading

The Philippines: A Big Winner From Falling Oil Prices With Robust Growth, Strong Banking Sector – Moody’s

Moody’s Investors Service said on Tuesday that the Philippine government’s sovereign rating of Baa2 is supported by improvements in government finances alongside ongoing debt reduction in addition to benefiting from low oil prices. “The country has favorable prospects for strong economic growth, and as a net oil importer, stands to benefit from a prolonged period of lower oil … Continue reading

India: A “Bright Spot” Among Asian Countries, S&P Says

India is the Asia-Pacific region’s “bright spot” during a time when other major Asian economies are likely to see sluggish growth, Standard & Poor’s (S&P) Ratings services says. S&P, bullish on India, has raised their forecasts for the growth of the nation’s gross domestic product (GDP) to 7.9% in the fiscal year ending March 2016, revised up from … Continue reading

Brazil ETF Stung Following Petrobras Downgrade

By Todd Shriber, ETF Trends Shares of Petrobras (NYSE: PBR), Brazil’s state-controlled oil company, were off 7% Wednesday on volume that appears likely to eclipse the daily average after Moody’s Investors Service lowered its rating on Latin America’s largest publicly traded oil producer to junk. That is proving to be bad news for the iShares MSCI Brazil … Continue reading

Barclays Cuts Russian Government Bonds From Indices Following Junk Downgrade

Foreign currency debt issued by the Russian government will be cut from British bank Barclays’ global bond indices following Moody’s downgrade it to junk, Reuters reports. Exclusion from an index puts securities off limits for many asset managers and can lead to heavy selling as investors drop the stocks or bonds that have been pushed outside their … Continue reading

Moody’s Cuts Russia’s Sovereign Rating To Junk, Expects `Deep Recession’ In 2015

Moody’s Investors Service downgraded Russia’s sovereign debt rating to junk status on Friday, assigning a rating of Ba1 — from its previous rating of Baa3 — with a negative outlook. Moody’s said in a statement the reason for the downgrade to junk status was due to impaired prospects for the nation’s economy, further erosion of fiscal strength and … Continue reading

20% Of Russian Banks Could Collapse In 2015, Vedomosti Says

Russia’s banking sector faces significant challenges in 2015 as an economic crisis broadens which may lead to nearly 20% of its banks collapsing this year, Russian business daily Vedomosti reported on Tuesday, citing Russian think tank the Center for Macroeconomic Analysis and Short-Term Forecasting (CMASF). This year, over 200 Russian banks could collapse due to a combination of bad loans and the … Continue reading

‘Financial Meteorologists’ And Their Political Predictions About The Russian Economic Storm – OpEd

By Andrew Korybko Credit rating agencies are predicting quite a storm for the Russian economy, and they are therefore threatening to lower the country’s status to ‘junk’ level. Just as a weatherman may be incorrect about their storm predictions, so too may a ‘financial meteorologist’, except the latter has ulterior motives in doing so. S&P has … Continue reading

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