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News Tag: S&P

September 20, 2011

S&P downgrade Italy’s sovereign debt

by Kay Mitchell
”S&P
Credit ratings agency Standard & Poor’s (S&P) has today downgraded Italy’s sovereign debt by one notch to A from A+, and kept it on a negative outlook. The agency cited weak economic growth prospects, which may impact on the country’s ability to reduce its deficit. The Italian Senate recently passed a tough austerity budget, which proposes cuts of €48 billion (£42 billion) over the ...




July 15, 2011

S&P may downgrade US AAA rating

by Kay Mitchell
”S&P
Standard & Poor's (S&P) has warned it may lower the US triple-A debt rating if a deal to lift the Government’s $14.29 trillion borrowing limit is not agreed soon. The news comes just one day after fellow ratings agency Moody’s said there is a risk of a possible downgrade. Both warnings come as tense negotiations in Washington enter the fifth day ...




April 18, 2011

Standard & Poor’s give US negative outlook

by Kay Mitchell
Standard & Poor's give US negative outlook
Standard & Poor's (S&P) has today lowered the US' top notch credit rating from stable to negative – suggesting that the rating could be cut within the next two years. The rating agency believes that the Democrats and Republicans will not be able to agree a plan to cut the spiralling US deficit. President Barack Obama and the Republicans are in a ...




March 29, 2011

S&P downgrades Greece rating

by Kay Mitchell
S&P downgrades Greece rating
Standard & Poor's (S&P) today downgraded its rating on Greece’s long-term debt by two notches to BB- from BB+, taking the nation’s debt deeper into junk status. The downgrade comes shortly after Moody's cut Greece's rating to B1, one notch below S&P's new rating. The downgrade is a further blow to the euro zone as bailout pressure continues to mount for Portugal after borrowing ...




January 27, 2011

Japan’s credit rating cut to AA-

by Kay Mitchell
”Japan’s
Standard & Poor's (S&P) has today cut Japan’s credit rating from AA to AA-, the first time in nine years such measures have been taken. The credit rating agency cited the country’s mounting debt worries for the downgrade. Japan’s debt currently stands at almost twice the country's annual economic output - this compares with 136.8% for Greece and 112.7%. Japanese debt is the ...




October 26, 2010

S&P revises its outlook for UK economy

by Kay Mitchell
”S&P
Credit rating agency Standard and Poor's (S&P) has today expressed its support for the Coalition Government’s handling of the UK economy after revising its outlook on the UK economy to "stable" from "negative" and affirmed its top AAA credit rating for Britain. The revision came on the same day that the Office for National Statistics (ONS) revealed UK economic growth ...




July 12, 2010

S&P affirms “AAA” rating for UK

by Kay Mitchell
S&P affirms “AAA” rating for UK
Rating agency Standard & Poor’s (S&P) today affirmed its "AAA" long-term rating on Britain but maintained its negative outlook on the long-term rating. Following the news, the pound fell to $1.5017 from $1.5068. Commenting on its announcement, S&P analysts Trevor Cullinan and David Beers, said: “The coalition government has set out what we view as a strong framework for fiscal consolidation. “There is ...




April 28, 2010

Spain downgraded as Europe debt crisis spreads

by Kay Mitchell
Spain downgraded as Europe debt crisis spreads
Standard & Poor's (S&P) have today downgraded Spain’s credit rating by one notch to AA from AA+ and comes as the head of the International Monetary Fund (IMF) warned that the crisis in Greece could spread throughout Europe. Following the news, the euro fell against the dollar to $1.3129 - a level not seen since late April 2009. Spain’s downgrade comes ...




Asia stocks down as it digests Greek downgrade

by Kay Mitchell
Asia stocks down as it digests Greek downgrade
Stock markets in Asia were down today after Standard & Poor’s (S&P) cut Greece’s credit rating to BB+ from BBB- yesterday. Greece has become the first euro zone nation to have its debt downgraded to "junk" status. According to S&P, the downgrade comes amid worries that Greece is not able to take the necessary action in order to manage its ...




April 27, 2010

S&P downgrade Greece to ‘junk’ status

by Kay Mitchell
S&P downgrade Greece to 'junk' status
Greece’s woes deepened today after Standard & Poor's (S&P) cut the country’s credit rating to BB+ from BBB-. According to S&P, the downgrade comes amid worries that it is not able to take the necessary action in order to manage its economic crisis. The debt-ridden economy is asking for help from fellow euro zone nations and the International Monetary Fund (IMF) in order ...




January 29, 2010

S&P downgrades Britain’s banking sector

by Kay Mitchell
...




June 8, 2009

Ireland’s credit rating cut again

by Kay Mitchell
”Ireland’s
Standard & Poor's (S&P) has again downgraded Ireland’s credit rating by one notch to AA, from AA+ amid fears that the Government is set to incur a bigger than expected cost for supporting banks. At the end of March, the agency downgraded Ireland’s credit rating from AAA to AA+ amid debt fears and put Ireland on a “negative” outlook, which meant further ...




December 16, 2008

Prime mortgage borrowers slide on repayments

by Gill Montia
Prime mortgage borrowers slide on repayments
Credit rating agency, Standard & Poor's (S&P) has reported that the proportion of prime mortgage borrowers that are at least one month in arrears with repayments has risen 50%. Prime borrowers are those with sound credit histories and in its UK Prime RMBS Index for the three months to the end of September, S&P puts the proportion having missed at least one ...




July 31, 2008

One in seven homeowners could face negative equity

by Gill Montia
One in seven homeowners could face negative equity
Standard & Poor's (S&P) is predicting that one in seven UK homeowners will face negative equity over the coming 12 months. Figures from Halifax and Nationwide in April show a 9% year-on-year decline in UK house prices and the credit rating agency expects a further slide of 17%, over the coming year. Research by CACI shows that around 70,000 ...