WASHINGTON | The problem wasn’t just the forced flexibility implied in the S&P models to rate AAA what should had never been awarded top quality grades. The supervisory models themselves were incorrect, to start with.
Did Moody’s downgrade Chancellor Osborne?
LONDON |Â The two possible responses from Chancellor George Osborne and Prime Minister David Cameron are well known: they could either use again the eurozone card as a scapegoat, or face the UK rating downgrade.
Moody’s warn for Europe and Draghi’s new hint
From stable to negative. Moody’s new rating for Europe puts the continent on notice and made some European stock markets slip on Tuesday. According to the agency, Germany, France, the UK and the Netherlands could stop fulfilling their obligations to the EU if the crisis worsens. These four countries account for about 45% of the [...]
Moody’s grades 17 German banks with negative outlook
Moody’s investors service said Thursday it had changed to negative the outlooks of 17 German banking groups and several subsidiaries. The decision affected their long-term debt and deposit ratings or their long-term guaranteed debt obligations, whose ratings incorporate support from the German government or several German federal states or municipalities. Moody’s explained the update of outlooks [...]
The consequences of the U.S. banks downgrade
NEW YORK | Last week 15 major banks, including the nation’s three largest institutions, JPMorgan Chase, Bank of America and Citigroup, which together have more than $6.4 trillion in assets, suffered credit ratings cuts by Moody’s. No matter their efforts to strengthen their operations since they received a warning in February, their core businesses still present [...]
Madrid speaks up in arm-wrestle with Brussels, Moody's adds pressure
I Want To Get Back With Him MADRID | An Spanish offensive seems to have been deployed in all fronts. Spain's King Juan Carlos in Brazil called on the European Union to advance its integration because the problem, he said, rather than economic, is political. Meanwhile, president Mariano Rajoy introduced in a Senate session what [...]
