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Moody’s downgrades Greece credit rating over debt uncertainty

EU Times — Thu, 30 Apr 2015 09:25:33 +0000

Moody’s rating agency has downgraded Greece’s credit rating further into junk territory over growing uncertainty about the country’s ability to make its debt payments. On Thursday, Moody’s slashed Athens’ rating to Caa2 from Caa1 and assigned it a “negative” outlook. The rating is just two steps away from the level signaling that a default is […]

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S&P downgrades Russia's credit rating to step above junk status

EU Times — Sat, 26 Apr 2014 09:08:52 +0000

For the first time in five years Standard & Poor’s has cut Russia’s credit rating to ‘BBB-‘, just above junk status. It warns the tension in Ukraine and ‘significant’ capital outflow could mean another downgrade. Moscow says it is “politically motivated.” “In our view, the tense geopolitical situation between Russia and Ukraine could see additional […]

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Fitch Ratings downgrades Argentina on default concerns

EU Times — Wed, 28 Nov 2012 22:15:40 +0000

The Fitch ratings agency has downgraded Argentina five notches, saying the country could default on its obligations to US creditors. That’s after a US judge ordered Argentina to set aside $ 1.3bn for debt repayment by December 15. The rating agency cut its long-term rating for Argentina to “CC” from “B,” with the short-term rating […]

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Panasonic downgraded by S&P due to $10 billion losses

EU Times — Sat, 03 Nov 2012 18:06:10 +0000

Panasonic Corp., Japan’s second largest TV maker, saw its credit rating cut by two levels by Standard & Poor’s after it forecast a $9.5 bn loss 30 times bigger than analyst estimates. S&P said it has downgraded long-term debt to BBB, down from A-, as “huge losses for the second year in a row weaken […]

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S&P downgrades credit ratings for three French banks

EU Times — Thu, 25 Oct 2012 22:49:30 +0000

Standard & Poor’s (S&P) Ratings Services has downgraded the credit ratings for three French banks, including BNP Paribas, citing growing risks facing the banks from potential prolongation of the eurozone recession. “In our view, the economic risks, under which French banks operate, are increasing, leaving French banks moderately more exposed to the potential of a […]

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S&P downgrades Spain's credit rating from BBB+ to BBB-

EU Times — Wed, 10 Oct 2012 22:23:34 +0000

Rating agency Standard & Poor’s has downgraded Spain’s credit rating by two notches, warning that the deepening economic recession is limiting the government’s options. S&P warned that rising unemployment and harsh austerity measures are likely to intensify social unrest and cause further friction between Spain’s central and regional governments. “The downgrade reflects our view of […]

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Moody's cuts EU outlook to "negative"

EU Times — Tue, 04 Sep 2012 09:50:10 +0000

Moody’s ratings agency has downgraded its outlook on the Aaa rating of the European Union from ‘stable’ to ‘negative,’ linking the decision to a recent outlook downgrade of the bloc’s major economies. “The negative outlook on the EU’s long-term ratings reflects the negative outlook on the Aaa ratings of the member states with large contributions […]

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Fitch downgrades Spain's credit rating by three notches

EU Times — Sun, 10 Jun 2012 21:55:06 +0000

Fitch credit ratings agency has downgraded Spain’s rating by three notches citing the country’s banking crisis, mushrooming debt and recession as the main reasons for the downgrade. The international agency announced on Thursday that it has cut Spain’s long-term foreign and local currency to ‘BBB’ from ‘A’ with a negative outlook. According to a Fitch’s […]

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S&P Downgrades EU Credit Ratings

EU Times — Fri, 13 Jan 2012 22:04:19 +0000

Standard & Poor’s has downgraded the credit ratings of France, Italy, and Spain, as the European debt crisis continues to intensify. According to French government sources, the ratings agency has downgraded the country’s Triple-A credit rating, while downgrading Italy and Spain’s ratings as well. Italy’s credit rating was cut by S&P by two notches to […]

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Italy Downgraded from A+ to A by S&P

EU Times — Fri, 23 Sep 2011 09:09:15 +0000

Standard & Poor’s drops credit rating to A from A+, blaming sluggish economy and ineffective government reforms. Italy has had its sovereign credit rating cut by Standard and Poor’s, with the ratings agency keeping the country’s outlook on negative in a surprise move that may add to contagion fears in the debt-stressed eurozone. Italian prime […]

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