Tag: Moody’s

Japan’s sovereign debt rating cut

Japan’s sovereign debt rating cut

Moody’s has lowered the government debt rating of Japan to Aa3 with a stable outlook, from Aa2. The credit rating agency has also taken action on the ratings of most Japanese banks, including Bank of Tokyo-Mitsubishi and Sumitomo Mitsui Banking Corporation, with the average downgrade one notch. According to Moody’s, the sovereign downgrade has been [...]

August 24, 2011 | 0 Comments More
Moody’s warns of Spanish downgrade

Moody’s warns of Spanish downgrade

July 29, 2011 | 0 Comments More
Price of gold reaches record high

Price of gold reaches record high

The price of gold rose to an all-time high of $1,589.56 an ounce in early trading today, before falling to $1,584.51. The dollar also fell against the Japanese yen and a weakening US dollar typically results in a rise in the price of gold as the currency generally moves in the opposite direction to the [...]

July 14, 2011 | 0 Comments More
Moody’s may downgrade US AAA debt rating

Moody’s may downgrade US AAA debt rating

July 14, 2011 | 0 Comments More
Moody’s cuts Irish debt rating as second bailout looms

Moody’s cuts Irish debt rating as second bailout looms

July 13, 2011 | 0 Comments More
Moody’s downgrades Portugal’s debt to junk status

Moody’s downgrades Portugal’s debt to junk status

July 6, 2011 | 0 Comments More
Moody’s: UK’s top-notch rating at risk

Moody’s: UK’s top-notch rating at risk

Credit rating agency Moody’s has today said Britain’s AAA rating is at risk if growth remains weak and the Government’s budget deficit reduction plans fail to meet target. The announcement sent sterling below €1.12 for the first time in four weeks and also lost ground against the US dollar. Weak economic growth has led many [...]

June 8, 2011 | 0 Comments More
Moody’s downgrades Greece credit rating further

Moody’s downgrades Greece credit rating further

Credit rating agency Moody’s has once again cut Greece’s credit rating by three notches into junk territory. The measures come after Moody’s said the country has a 50:50 chance of defaulting on its debts in the next five years. Moody’s said: “The first trigger for today’s downgrade is Moody’s view that Greece is increasingly likely [...]

June 2, 2011 | 0 Comments More
Nationwide reports rise in underlying pre-tax profits

Nationwide reports rise in underlying pre-tax profits

Britain’s largest building society, Nationwide, has today posted a surge in underlying pre-tax profits. Nationwide said pre-tax profits fell 7% to £317 million – primarily due to accounting changes. However, underlying profits surged 30% to £276 million in the year to 4 April. Meanwhile, the amount written off for bad loans to customers dropped by [...]

May 25, 2011 | 0 Comments More
14 UK banks could see credit rating cut

14 UK banks could see credit rating cut

Moody’s Investors Service has today announced it is reviewing 14 UK banks and building societies for downgrade due to the withdrawal of Government support. Elisabeth Rudman, a Moody’s Senior Credit Officer, said: “It has been initiated in response to ongoing guidance from the UK authorities (the Bank of England, the Financial Services Authority and the [...]

May 24, 2011 | 0 Comments More
Moody’s downgrades Irish banks to junk status

Moody’s downgrades Irish banks to junk status

Ratings agency Moody’s has downgraded its rating of Irish banks by two notches to junk status. The downgrade comes just a week after Moody’s downgraded Ireland’s sovereign debt rating. Today’s downgrade means Bank of Ireland is now rated Ba1 while AIB, EBS and Irish Life & Permanent are rated Ba2. Moody’s said there is a [...]

April 18, 2011 | 0 Comments More
Portugal in bailout talks

Portugal in bailout talks

After months of speculation, it has been announced that Portugal will seek financial help. EU finance ministers are set to meet in Hungary this week when the bailout will be discussed. Portuguese borrowing costs rose to more than 10% this week – the first time since the introduction of the euro. A surge in borrowing [...]

April 7, 2011 | 0 Comments More
Moody’s downgrades Portuguese banks prior to debt sale

Moody’s downgrades Portuguese banks prior to debt sale

Portugal is looking to sell as much as €1 billion in short-term Government debt today - in a bid to help service its debts. The Government is expected to be able to issue 6 and 12-month treasury bills but the debt auction comes after Moody’s downgraded the credit ratings of seven Portuguese banks citing weakened [...]

April 6, 2011 | 0 Comments More
Moody’s downgrades Portuguese Government debt

Moody’s downgrades Portuguese Government debt

Moody’s Investors Service has today downgraded Portugal’s debt rating, for the second time in less than a month, by one notch to Baa1 from A3. Moody’s also warned that a further downgrade is possible as a bailout becomes increasingly likely for the debt-laden country. It said the downgrade was “driven primarily by increased political, budgetary [...]

April 5, 2011 | 0 Comments More
Moody’s – UK’s sovereign rating could be at risk

Moody’s - UK’s sovereign rating could be at risk

March 25, 2011 | 0 Comments More
Moody’s cut Portugal sovereign debt rating

Moody’s cut Portugal sovereign debt rating

Portugal has had its sovereign debt rating downgraded by Moody’s by two notches to A3 from A1 and kept the rating on a negative outlook - suggesting further downgrades are possible. According to the ratings agency, it might have to downgrade again as a result of high borrowing costs and the difficulty of meeting fiscal [...]

March 16, 2011 | 0 Comments More
Moody’s downgrades Spain’s debt rating

Moody’s downgrades Spain’s debt rating

Spain has been dealt a further blow today after Moody’s ratings agency cut the country’s debt by one notch to Aa2 from Aa1. In a statement, the agency said: “(Moody’s) believes there is a meaningful risk that the eventual cost of the recapitalisation effort could considerably exceed the government’s current projections.” The downgrade comes just [...]

March 10, 2011 | 0 Comments More
Moody’s slash Greece’s credit rating further

Moody’s slash Greece’s credit rating further

March 7, 2011 | 0 Comments More
Moody’s cuts Japan’s credit outlook

Moody’s cuts Japan’s credit outlook

February 22, 2011 | 0 Comments More
Moody’s warns Portugal rating may be cut

Moody’s warns Portugal rating may be cut

Moody’s Investor Service has today put Portugal under review, warning that it may cut its rating by one or two notches. Investors have been nervous over recent weeks as Portugal’s borrowing costs surge and there have been suggestions that it might be forced to seek an emergency bailout, like Greece and Ireland. However, the country’s [...]

December 21, 2010 | 0 Comments More