International rating agency Moody’s has downgraded the long-term issuer rating of Ukraine to the second lowest Ca grade from Caa3, leaving the outlook negative and a high possibility of the country’s imminent default. “Although negotiations over the specific details of the restructuring are only now getting underway, Moody’s believes that the likelihood of a distressed exchange, and... 

S&P on Monday downgraded Russia’s credit grade to junk status. Rating agency Standard & Poor’s downgraded Russia’s credit rating to the speculative BB+ grade from BBB-. Analysts say that the decision of the rating agency was politically motivated. The speculative level means that securities that a BB+ state issues can only be good for short-term transactions to earn on their... 

Thousands of recently highly paid workers have been laid off after the oil price plummeted 50 percent in 2014. At least four American oil-producing states are already facing budget problems due to decreasing oil revenues. The price plunge has affected petroleum production in all oil-extracting countries, including the US. Currently cheap fuel is still believed to be providing an overall boost to the... 

Australia’s national carrier Qantas has posted an annual net loss of 2.6 billion dollars last year. The airliner on Thursday posted the full-year net loss of 2.64 billion US dollars in 2013-2014 in its worst performance. The figure is much worse than expectations as analysts initially predicted the company to report an underlying pre-tax loss of about 700 million dollars. Qantas’s international... 

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... 

Turkey’s credit rating has been downgraded as a result of political turmoil in the country. The international credit rating agency, Moody’s, has downgraded its outlook on Turkey over increased pressure on the country’s external financing position and weaker growth prospects. Moody’s on Friday changed the outlook from stable to negative, which puts the government’s investment-grade... 

Standard & Poor’s says the shutdown in total cost the US economy $24 billion, or $1.5 billion per day, the rating agency said Wednesday. The agency also estimated the shutdown will pare fourth quarter GDP by 0.6 percent. Obama has signed legislation that will avoid a technical debt default, ending the 16-day partial shutdown of the government that has cost the world’s largest economy... 

Goodyear employees gather around burning tires outside the Goodyear tire company in the northern French city of Amiens on February 26, 2013. French workers have held a demonstration in the northern city of Amiens against the impending closure of a troubled tire plant in the city. The workers at Goodyear Dunlop Tires France have been trying to save their jobs for more than five years, but in a last-ditch... 

The U.S. Justice Department found those to blame in the global crisis of the late 2000s. According to the American authorities, this is Standard & Poor’s. The accused is confused, while the U.S. Justice Department is preparing a lawsuit against the agency. It wants to make Standard & Poor’s accountable for publishing inflated ratings of mortgage bonds. Allegedly, this publication... 

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 being cut to the level one step above default – to “C”... 

Credit rating heavyweight Moody’s Investors Service has stripped France of its top AAA rating to Aa1 with a negative outlook, sending a warning to President Hollande’s endeavours to rebuild French economic growth and credibility. ­Moody’s said its decision to downgrade Europe’s second largest economy reflects France’s deteriorating economic outlook, the recession in the wider Eurozone... 

A new agency is about to appear in the rating business that will be created by the Russians, Chinese and Americans. The agency Universal Credit Rating Group that claims to be a global player, came into being in Beijing and is the joint brainchild of the Chinese rating agency Dagong Global, the American Egan-Jones, and Russian RusRating. Earlier, AFP reported that the Chinese rating agency Dagong planned... 

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 to the EU budget: Germany, France,... 

Rating agency Moody’s has cut its rating on Spanish government debt by three notches from A3 to Baa3. Cyprus’s sovereign debt was lowered by two notches from Ba1 to Ba3. The agency said Wednesday that Spain’s debt burden would increase once the EU has approved a plan to help the country’s banks. It has Spain under further review and could lower its rating even further, Reuters reports....