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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
Greece: The Day Is Coming And Someone May Say The Game Is Over
“International Monetary Fund representatives have cut short negotiations with Greek officials in Brussels, after they failed to present a viable reform plan. The move has left Athens, due to repay €1.6 billion by the end June, on the edge of default,” RT reports. “The ball is very much in Greece’s court,” IMF spokesman Gerry Rice … Continue reading
S&P Downgrades Greece, Warns Of Default If No Deal With Creditors
Standard & Poor’s has lowered Greece’s sovereign rating one notch further into junk territory, saying the country will likely default within the next 12 months if it doesn’t agree with its creditors over the €7.2 billion installment. S&P downgraded the rating to “CCC” from “CCC+” – a highly speculative rating on S&P’s scale – saying … 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
As Oil Remains Under Pressure, S&P Cuts Kazakhstan To BBB
Standard & Poor’s Ratings Services has cut its long-term foreign and local currency sovereign credit ratings of Kazakhstan from BBB+ to BBB with a negative outlook. At the same time, the agency affirmed the country’s short-term foreign and local currency sovereign credit ratings at A-2. In addition, the agency downgraded the country’s national scale rating to … 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
S&P Downgrade ‘Groundlessly Pessimistic’ – Russian Finance Minister
The downgrade of Russia’s credit rating by S&P is unreasonable, as the agency didn’t consider the country’s anti-crisis plan, and the strong economy with its large reserves and extremely low public debt, said Russian Finance Minister Anton Siluanov. Siluanov says he does not think the move will lead to a sharp decline in the share … Continue reading
Moody’s Says Russia’s GDP To Fall By 5.5% In 2015
Moody’s Investors Service, the international ratings agency, says that it expects Russia’s gross domestic product (GDP) to fall 5.5 percent in 2015, the ratings agency said in a statement on Thursday. The statement by Moody’s was featured in the agency’s downgrade of Armenia’s credit rating, whose government bond rating was cut to Ba3 from Ba2 in addition to the nation’s outlook being … Continue reading
New Credit Rating Agencies To Balance ‘Big Three’, China Says
The creation of a joint Russian-Chinese credit rating agency will balance the global outlook and give the world an alternative view on how credit ratings should be done, Chinese international relations expert Victor Gao told RT. “Traditionally credit rating is mostly done by Western credit rating agencies. They sometimes may not fully understand the dynamics … Continue reading
China, Russia Launching New Credit Ratings Agency In 2015
By Sputnik The first ratings of Universal Credit Rating Group (UCRG), which was created with the participation of Russia and China, are expected as early as 2015, the Head of the Research Department at RusRating Alexander Ovchinnikov told Sputnik on Tuesday. “In our opinion, the first ratings [will] appear … during the current year,” Ovchinnikov told Sputnik. According to him, the project is in its final stage. … Continue reading
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