Downgrades of parent ratings have therefore been reflected in downgrades of subsidiary ratings.
|
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Sovereign downgrades triggered many EM bank downgrades because they signalled weakened ability to support.
|
|
Compared to the typical 2743 upgrades and 5 downgrades, Cramer counted 29 upgrades of import and only two downgrades.
|
|
Compared to the typical 10 upgrades and 5 downgrades, Cramer counted 29 upgrades of import and only two downgrades.
|
|
There were 71 downgrades and 21 upgrades, with more than half of the downgrades related to our reassessment of sovereign credit strength.
|
|
Emerging markets (EMs) dominated the IDR changes with 57 downgrades and eight upgrades, compared with 0003 downgrades and 13 upgrades in developed markets (DMs).
|
|
"Downgrades are unhelpful, although not fatal for stock markets," Citi equity strategists said, adding that Europe and emerging markets were "most vulnerable" to downgrades.
|
|
The earnings revision ratio for emerging market equities, which measures analyst upgrades versus downgrades, was at minus 40 percent in February, indicating far more downgrades.
|
|
Law downgrades status of Arabic The law also downgrades the status of Arabic, until now an official language of the State of Israel, along with Hebrew.
|
|
Regionally, EMEA and LatAm recorded the bulk of corporate finance downgrades in 2015, as downgrades exceeded upgrades for each region by 2.7 and 2.5 to 210004, respectively.
|
|
GrubHub received five downgrades, including double downgrades from both Bank of America Merrill Lynch and Oppenheimer, where the firms flipped from recommending buying the stock, to selling.
|
|
In addition, there have already been notable emerging-market bank downgrades in 2017, for example in Costa Rica and Turkey, triggered by sovereign downgrades, with Outlooks now Stable.
|
|
This compares with a full-year peak of 20 downgrades in 2011 — so it looks like this year's final total of downgrades by Fitch may set a new record.
|
|
Our 12-month rolling ratio of downgrades/upgrades remains in favour of downgrades, at 1.5:1.0, after downgrading 29 and upgrading 5003 corporates during the 12-months ending 3Q17.
|
|
The grim outlook, based on increased competition in the food delivery space, caused the stock to get five downgrades, including two double-downgrades from Bank of American and Oppenheimer.
|
|
The downgrades of these institutions are driven by Fitch's recent actions on Kazakhstan's sovereign ratings (see 'Fitch Downgrades Kazakhstan to 'BBB'; Outlook Stable', dated April 29, 2016, at www.fitchratings.com).
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|
LONDON, Sept 14 (Reuters) - The record cycle of sovereign rating downgrades looks to be over rating agency Fitch said on Thursday, predicting there would be as many upgrades as downgrades next year.
|
|
Emerging market (EM) activity recorded a 2.1 to 13 margin of downgrades to upgrades in 2016, reflecting in part an increase in EM sovereign downgrades to 16 from 11 a year earlier.
|
|
Illinois, which accounted for the most credit downgrades last year as the state and local governments continued to face pension challenges, also had a number of downgrades to its public universities The State of New Jersey marked the largest downgrade last year at $37 billion, followed by downgrades of over $20 billion each in Illinois, Puerto Rico, and Connecticut.
|
|
It warned this month more downgrades were likely in 2017.
|
|
Mr. Rubio attacked Mr. Christie over New Jersey's credit downgrades.
|
|
Ratings agencies have also warned of further credit ratings downgrades.
|
|
This exposes them to further potential ratings downgrades in 2016.
|
|
After a series of downgrades, the firm started to unravel.
|
|
The company declined to comment on the credit ratings downgrades.
|
|
There were also downgrades to business investment and government spending.
|
|
Cramer said Apple is still prone to downgrades by analysts.
|
|
In a market downturn, widespread downgrades of corporate bonds could induce a sell-off, precipitating sharp declines in the price of bonds and feeding a cycle of further downgrades, margin calls and sell-offs.
|
|
See 'Fitch Downgrades 5 Italian Banks Following Sovereign Downgrade' dated 2 May 2017 and 'Fitch Affirms Intesa at 'BBB'/Stable; Downgrades Vicenza to 'D' and VR to 'f'' dated 27 June 2017 for further information.
|
|
" Mr. Trump on Mr. Christie's management of New Jersey: "Nine downgrades.
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|
Let's see if anybody downgrades it on Monday or Tuesday, though.
|
|
Downgrades to Caa and below will be punitive to many investors.
|
|
Downgrades of stressed borrowers could force "fire sales" of illiquid loans.
|
|
Both agencies warned that future events could result in further downgrades.
|
|
The base-level Note downgrades from 6.4 to 6.3 inches. Why?
|
|
Still, there were no new downgrades by brokerages on Tesla shares.
|
|
One clause downgrades the Arabic language from official to "special" standing.
|
|
SO MANY DOWNGRADES TO YOUR FORECASTS OVER THE LAST FEW YEARS.
|
|
Thursday's report follows a recent wave of full-year growth downgrades.
|
|
There could be multiple rating downgrades if linkage was to disappear.
|
|
Most of the downgrades have been due to health and age.
|
|
It still has an investment-grade credit rating, despite recent downgrades.
|
|
They also recovered earlier losses, this time caused by ratings downgrades.
|
|
U.S. FEDERAL AVIATION ADMINISTRATION DOWNGRADES VENEZUELA'S AIR SAFETY RATING -- AGENCY STATEMENT
|
|
Heineken shares dropped 1.4 percent following some rating downgrades by analysts.
|
|
Issuers affected by downgrades (11.1%) declined modestly from 12.2% in 2015.
|
|
Coming after a string of downgrades before March, that's a relief.
|
|
If current challenges do not ease, the banks could face further downgrades.
|
|
"I'm not that worried about a massive wave of downgrades," she said.
|
|
Last year, downgrades outnumbered upgrades by almost 3:1, the agency said.
|
|
They've faded into a blur of arbitrary upgrades, downgrades and lateral moves.
|
|
Its high debtload has led to downgrades of the province's credit rating.
|
|
Italy's worsening outlook has already driven 10 consecutive weeks of earnings downgrades.
|
|
Some of the countries suffering the biggest growth downgrades were oil exporters.
|
|
Roku shares plunged 13 percent Wednesday following two Wall Street analysts' downgrades.
|
|
JAPAN GOVT DOWNGRADES ECONOMIC ASSESSMENT IN MARCH, FIRST TIME IN 3 YEARS
|
|
Wall Street downgrades are a rarity for a beloved stock like Amazon.
|
|
The change also downgrades the role of Homeland Security advisor Thomas Bossert.
|
|
There were 83 upgrades versus 43 downgrades in the quarter, Fitch said.
|
|
Trends in developed markets (DMs) are more positive, with upgrades exceeding downgrades.
|
|
Ratings agencies have warned of downgrades before the end of the year.
|
|
A revision is also unlikely to lead to credit downgrades, economists said.
|
|
I say stay tuned to the downgrades after Amazon Prime Day tomorrow.
|
|
After receiving multiple downgrades, shares of the company closed down 22020% Tuesday.
|
|
Italy's worsening outlook has already driven 23 consecutive weeks of earnings downgrades.
|
|
And after a series of ratings downgrades, the firm started to unravel.
|
|
A sustained leverage of above 2123x may result in further rating downgrades.
|
|
We've seen downgrades to global growth from say, the IMF and others.
|
|
Market reaction to subsequent downgrades is usually far smaller, it noted bit.
|
|
Ratings downgrades can make it more expensive for companies to borrow money.
|
|
The remaining ratings are independent of downgrades in the LMI providers' ratings.
|
|
EasyJet fell 3.3 percent after broker downgrades following its profit warning on Thursday.
|
|
Analysts said this implied material downgrades to current consensus of 309 million pounds.
|
|
Zombieland: Double Tap downgrades the formula to sometimes funny, and not especially affecting.
|
|
Moody's and S&P, two ratings agencies, announced credit downgrades and threatened more.
|
|
Rating downgrades hurt Marks & Spencer and its online food joint venture partner Ocado.
|
|
The peso has been hit by recent credit downgrades for the indebted firm.
|
|
Its high debt load has led to downgrades of the province's credit rating.
|
|
However, we are monitoring the situation closely and downgrades are possible from 2017.
|
|
But that has no growth, and I'm getting nothing but downgrades on it.
|
|
The ratings were placed on a watch list for a potential subsequent downgrades.
|
|
AX) have issued earnings downgrades in recent weeks (Caltex reports half-year results).
|
|
But they later retreated amid weakness in tobacco stocks and some broker downgrades.
|
|
" Cramer found "no fewer than a dozen downgrades on Tuesday and into Wednesday.
|
|
Despite the downgrades, VW's senior spreads have recovered considerably since the ECB announcement.
|
|
Altice and Telecom Italia dragged the sector lower on news of ratings downgrades.
|
|
The upheaval triggered a share price collapse, credit downgrades, writedowns and asset sales.
|
|
Cisco Systems and Qualcomm shares dropped 1.5% and 2.3%, respectively, following analyst downgrades.
|
|
The upheaval triggered a share price collapse, credit downgrades, writedowns and asset sales.
|
|
Looking at individual stocks, Micro Focus and Elisa fell following downgrades from brokers.
|
|
Kelly, who mandated the clearance downgrades, has been regarded as his chief antagonist.
|
|
The World Bank didn't detect any statistically significant impact from local currency downgrades.
|
|
Netflix stock downgrades are a rare occurrence on Wall Street in recent years.
|
|
Shares of the company fell nearly 9 percent on Friday, amid several downgrades.
|
|
He said the high-yield downgrades resemble the cycle in 1998 and 2007-2008.
|
|
Rating agency Moody's put 120 energy firms across the world on review for downgrades.
|
|
A wave of downgrades to junk status would spark a corporate-bond sell-off.
|
|
But analysts had already been peppering Apple's stock with downgrades in the months prior.
|
|
One clause of the bill downgrades the Arabic language from official to "special" standing.
|
|
Again, the consumer products giant's stock was peppered with price target cuts and downgrades.
|
|
S&P SAYS DOWNGRADES STAND-ALONE CREDIT PROFILE OF PEMEX TO B- FROM BB-
|
|
The risk is that worsening debt metrics trigger credit rating downgrades in coming months.
|
|
It has been hit with five straight downgrades, yet it continues to go higher.
|
|
A third budget-less year risks potential downgrades of Illinois' already low credit ratings.
|
|
The rand held on to gains despite continued fallout triggered by credit ratings downgrades.
|
|
GROWTH DOWNGRADES When the Berlin Wall fell in 1989, Sino-German trade was tiny.
|
|
The decision not to deliver full downgrades is likely to be of some relief.
|
|
Mozambique's metical currency slid 6 percent after Moody's and Standard & Poor's issued ratings downgrades.
|
|
Product Downgrades Sylvia Herfeldt started hitting Black Friday sales once she learned to drive.
|
|
The recent upheaval includes large stock losses and bond downgrades for domestic energy players.
|
|
This year has already seen 10 downgrades and only one upgrade in emerging markets.
|
|
Moody's last review resulted in downgrades for six of the universities in June 2016.
|
|
Though more bullish on some names, the analyst did issue some downgrades as well.
|
|
He has left them with 10 credit downgrades, more than any other governor nationwide.
|
|
After some downgrades, analysts are split roughly in half between buy and hold ratings.
|
|
Despite several sovereign downgrades since 2010, the overall credit quality of EU countries remains high.
|
|
Different European banks were also below the flatline, after various rating downgrades by Morgan Stanley.
|
|
But the upheaval meant a collapsing share price, credit downgrades, management changes and asset sales.
|
|
The cut to Eutelsat's full-year forecast is the latest in a series of downgrades.
|
|
Nordstrom dropped 3.1% and Ross Stores fell 2.3% in premarket trading following the Goldman downgrades.
|
|
The threat of downgrades has focused the spotlight on President Jacob Zuma and his administration.
|
|
Sports Direct fell 5.7 percent, also suffering broker downgrades after a profit warning last week.
|
|
Fiat Chrysler (FCA) fell 4.4 percent after Exane BNP Paribas downgrades the stock to "underperform".
|
|
It's also the highest level of companies issuing downgrades since the first quarter of 24.
|
|
Luxury goods companies Richemont and Moncler were each down more than 3 percent after downgrades.
|
|
Indicated 1.1 percent higher Moody's downgrades E.ON's credit rating to "Baa0.73", with a "stable" outlook.
|
|
French catering company Sodexo fell 2.8 percent after downgrades from Kepler Cheuvreux and Credit Suisse.
|
|
Cuts in the budget were largely seen as a measure to prevent future ratings downgrades.
|
|
Indicated 0.5 pct lower Moody's downgrades SGL Carbon's CFR to Caa1 from B2; stable outlook.
|
|
See 'Fitch Downgrades Eskom SOC to 'BBB'; Outlook Stable' dated 11 December 2015 at www.fitchratings.
|
|
See 'Fitch Downgrades Transnet SOC to BBB-; Outlook Stable' dated 11 December 2015 at www.fitchratings.
|
|
AT&T — Shares of the telecom company slid 5.9% after a pair of analyst downgrades.
|
|
That will cut deeply into some reinsurers' capital reserves and could lead to ratings downgrades.
|
|
" The measure also downgrades Arabic from an official language to one with a "special status.
|
|
The city had been on a watch list for likely downgrades because of pension risks.
|
|
The digital security firm Gemalto fell by more than 19 percent after several rating downgrades.
|
|
Ballooning pension liabilities for some cities have led to budget cuts and credit rating downgrades.
|
|
Multi-notch downgrades would push ratings for Illinois State and Southern Illinois universities into junk.
|
|
Since January 22019, we have issued 11 state credit rating downgrades and just two upgrades.
|
|
The margin on the April 2016 loan stepped up as a result of the downgrades.
|
|
Looking at Europe's prominent industries, travel and leisure closed slightly down following some rating downgrades.
|
|
As in Germany, rain was raising concerns about quality downgrades to wheat crops in Poland.
|
|
As the nation and some states have experienced downgrades, South Dakota's stewardship is paying off.
|
|
Gordhan's firing led to sovereign debt downgrades, large street protests and calls for Zuma's resignation.
|
|
Analysts will be assessing the possible fallout; chances are, some earnings downgrades will start coming through.
|
|
Those equities bounced back after each caught downgrades from RBC Capital Markets Tuesday morning, he added.
|
|
Last week, there were many downgrades of bank stocks, which have roared since Trump's surprise victory.
|
|
If it continues to weaken, Cramer expects to see earnings disappointments and downgrades to roll in.
|
|
Over the past 18 months, S&P has issued three times as many downgrades as upgrades.
|
|
Jefferies analysts said the second quarter result "suggests downgrades to consensus led by net interest income".
|
|
The rated notes for all the transactions are independent of downgrades of the LMI providers' ratings.
|
|
Downgrades to relative earnings are likely in the coming months, which will weigh on relative performance.
|
|
The plan has been controversial because it throttles tethering speeds and downgrades video resolution to 480p.
|
|
Over the past two years, quarterly credit rating upgrades have exceeded downgrades in the public sector.
|
|
The news set back the company's most important drug and prompted analyst downgrades and estimate cuts.
|
|
Petrofac lagged a positive oil sector, down 3.5 percent after downgrades from Deutsche Bank and Bernstein.
|
|
"The downgrades in today's report were bigger than we had expected," said JPMorgan analyst Tom Kennedy.
|
|
The second is that rating agencies may slap downgrades on companies during periods of financial stress.
|
|
The downgrades were mainly for South Korean firms, followed by companies in Malaysia and New Zealand.
|
|
The state's staggering pension debt has led to 11 credit downgrades in the past eight years.
|
|
This has triggered downgrades by all major credit agencies, which now rate Oman below investment grade.
|
|
Two analysts issued downgrades and shares plummeted to their lowest level in more than three months.
|
|
Travel and leisure stocks were also among the worst performers following some downgrades in the sector.
|
|
The resulting losses strained the company's ability to repay its debts and led to credit downgrades.
|
|
The ratio of developed markets downgrades to upgrades was roughly unchanged YOY at 1.1 to 1.
|
|
" He said he is not planning any further downgrades but believes the bank needs "a shakeup.
|
|
He trumpeted downgrades in US participation in the Paris climate accord and the Iran nuclear accord.
|
|
A BlackRock spokeswoman said to the extent that there are downgrades from BBB to high yield, those bonds would be gradually removed from the fund, and the risk to investors is potential credit losses associated with BBB downgrades as they are sold from the fund overtime.
|
|
Regions Financial was slammed with three downgrades after the election, courtesy of Piper Jaffray, Jefferies and Susquehanna.
|
|
The currency is vulnerable to possible downgrades to South Africa's credit rating and higher U.S. interest rates.
|
|
Peter Bradshaw, The Guardian: It is also a film that downgrades the patriotic fervour of the landing.
|
|
Both agencies have warned of future downgrades if Illinois' big pension problem and structural budget deficit worsen.
|
|
Political instability, high unemployment and the ratings downgrades have dented business and consumer confidence in South Africa.
|
|
The health care real estate investment trust was hit with various analyst downgrades and negative newspaper articles.
|
|
The government's heavy debt load has brought a series of credit downgrades, raising its borrowing costs further.
|
|
Credit downgrades have put off investors, and the Treasury warned that capital outflows could destabilise the economy.
|
|
Design aside, there are plenty of downgrades from XS, to help Apple hit that $729 price point.
|
|
"We are expecting a much more equal split between sovereign upgrades and downgrades in 2018," he added.
|
|
If you're already on the Unlimited Freedom plan, there only appears to be downgrades to switching over.
|
|
On Friday, Moody's put 55 mining and metals companies on review for downgrades to their credit ratings.
|
|
Gordhan told Reuters in an interview that he had done "more than enough" to avert ratings downgrades.
|
|
For the full rating action commentary, see 'Fitch Downgrades Genworth Life's IFS Ratings to 'BB+'; Outlook Negative'.
|
|
In July, the company's chief executive officer stepped down over multiple profit downgrades stemming from those projects.
|
|
Mr. Wilson said Allianz's holdings were diversified enough that it could cope with a rash of downgrades.
|
|
Shares in Capita fell to its lowest since 2006 after the services provider received two broker downgrades.
|
|
The firm downgrades Costco's shares to neutral from buy and removes it from its conviction buy list.
|
|
The ratings downgrades have put pressure on South African asset prices and could increase its borrowing costs.
|
|
However, downgrades in the VRs would not necessarily affect the IDRs, which are aligned with the SRFs.
|
|
Flynn said his committee became involved because pension problems contributed to credit rating downgrades for both cities.
|
|
Ericsson, Iberdrola and BAE Systems all fell deep into the red as well, after receiving rating downgrades.
|
|
As a result of these downgrades, roads, dams, electrical lines, and pipes began to cover Yosemite's fringes.
|
|
Macy's, the department store giant, as well as the carmakers Ford and Renault, have also suffered downgrades.
|
|
Vocus' share price has halved since November, when the company announced the first of three earnings downgrades.
|
|
RCom's stock has retreated by 63 percent this year amid a string of downgrades by ratings agencies.
|
|
Nonfinancial entities affected by downgrades (13.3%) and upgrades (8.3%) in 2016, edged slightly higher than 0003 activity.
|
|
In particular, Noble has struggled with credit downgrades, questions about its accounting practices, and a management shakeup.
|
|
It's starting to annoy me, all these downgrades, because they seem to be completely done by knuckleheads.
|
|
The plant's owner faces credit downgrades, multiple lawsuits and an investigation by the Securities and Exchange Commission.
|
|
Shares in Capita fell to their lowest since 2006 after the outsourcing firm received two broker downgrades.
|
|
That aside, no one should be rooting for a shutdown, a debt ceiling crisis, or credit downgrades.
|
|
He criticized the governor for the nine credit downgrades that had occurred in New Jersey on his watch.
|
|
BB&T was hit with five separate downgrades from late June to a few weeks before the election.
|
|
The downgrades of Russia automatically affected the ratings of Russian companies, creating a market for Russian domestic ratings.
|
|
Downgrades were a drag, weighing on Gemalto, Ingenico and Rightmove, which all fell between 3 to 3.8 percent.
|
|
Some of the biggest downgrades we've made to growth have been has been in the Latin American region.
|
|
But UBS analysts said they expected consensus earnings estimate downgrades of 5 to 7 percent for the carmaker.
|
|
The fallout overseas was predictable: downgrades by Moody's, a ratings agency, and doors slammed shut by aircraft financiers.
|
|
And Deutsche Bank downgrades it to a "hold" from a "buy" and priced it at $153 from $196.
|
|
In September the Bank for International Settlements fretted that downgrades of troubled borrowers could spark a "fire sale".
|
|
Valeo's full-year guidance indicates mid-to-high single digit downgrades to consensus are likely, UBS analysts said.
|
|
But plan changes, downgrades and cancellations still have to go through Comcast directly, the Cable Store FAQ indicates.
|
|
This has pushed the country to the brink of credit downgrades that would cause borrowing costs to spiral.
|
|
Cramer recommended that if there are downgrades on Thursday, investors should buy Honeywell before it reports on Friday.
|
|
Its share price collapsed and credit ratings downgrades, management upheavals, asset writedowns, asset sales and a fundraising ensued.
|
|
That triggered a share price collapse, credit downgrades and writedowns, as well as fund-raising and management changes.
|
|
While that certainly isn't healthy, the developments on their own however shouldn't cause a mass wave of downgrades.
|
|
The response was largely due to JLR's credit issues, ratings downgrades and negative outlook for its China business.
|
|
The downgrades of their IDRs and senior unsecured debt ratings are driven by the downgrade of their VRs.
|
|
Downgrades from Morgan Stanley weighed on both Experian and G4S, which fell 1.5 percent and 1.1 percent respectively.
|
|
The accounts revision, mounting debt and possible credit ratings downgrades have raised investor concerns over Asiana's liquidity position.
|
|
That's the sharpest pace of downgrades in four years and nearly twice the 213-year average, FactSet said.
|
|
Constrained liquidity due to limited access to capital markets or bank credit lines could also result in downgrades.
|
|
A wave of defaults, or even a series of rating downgrades and repricing, would shake the financial system.
|
|
If that debt loses value, as it would after downgrades, the banks will suffer losses, eroding their capital.
|
|
There's the $135.7 billion in unfunded pension funds and 10 credit downgrades to be repaired, among other tasks.
|
|
Spotless has since delivered a series of earnings downgrades, blaming slowness of government contracts and the mining downturn.
|
|
Downgrades started well before the earnings season even started three weeks ago, suggesting that confidence was already low.
|
|
The price collapsed by nearly 25 percent between Friday and Monday, following several cautious stock downgrades by investment banks.
|
|
Third-quarter earnings season has been overshadowed by sell-offs across global markets and sharp downgrades to corporate estimates.
|
|
The camera even downgrades the number of megapixels versus the S6, from 16 to 12, prioritizing larger sensors instead.
|
|
Rating agencies S&P and Moody's warned the acquisition could lead to downgrades in the spice maker's credit rating.
|
|
In a report issued Wednesday, S&P said that sovereign rating downgrades are unlikely to outpace upgrades in 2017.
|
|
Cramer, who has long warned investors against selling Apple's stock, last year mocked numerous downgrades by Wall Street analysts.
|
|
The satellite operator was faced with ratings downgrades on Friday, after the firm cut its outlook for the year.
|
|
So downgrades to junk from two of these agencies would be enough to take Italy out of these indexes.
|
|
On Monday, the U.K. lost its final triple-A ratings, with Standard & Poor's and Fitch Ratings both announcing downgrades.
|
|
A recession or downturn could "spark" a wave of downgrades from investment grade bonds into junk bonds, he said.
|
|
Sportswear retailer Sports Direct also suffered from broker downgrades from Numis and Haitong Research, falling more than 4 percent.
|
|
It's the exact same game under the graphical downgrades, and it still looks pretty good on the portable screen.
|
|
The stock continued to slide more than 2 percent on Wednesday, following downgrades at a number of research firms.
|
|
He said it expected to make around 20 downgrades this year, after a record number of cuts last year.
|
|
Analysts said the ongoing political skirmishes combined with weak economic growth had raised the chance of downgrades in 2017.
|
|
The Outlooks are Stable (see "Fitch Downgrades South Africa to 'BB+'; Outlook Stable", dated 7 April 2017 at www.fitchratings.com).
|
|
Tsogo Sun is grappling with an economy that is barely growing amidst political uncertainty and sovereign credit rating downgrades.
|
|
The transgender community also criticized David for his stunt, saying it downgrades the whole process of changing ones gender.
|
|
Illinois, which has the lowest credit ratings among the 50 states, evaded downgrades to junk with the budget enactment.
|
|
Investors should take note of the downgrades analysts made on a collection of stocks, CNBC's Jim Cramer said Monday.
|
|
Other credit agencies are warning of further downgrades to the Illinois' credit, already the lowest of the 50 states.
|
|
With South Africa threatened by ratings downgrades to "junk" status, presenting the three-year budget to parliament on Feb.
|
|
The two downgrades were Azerbaijan and Kazakhstan, reflecting the impact of lower oil prices on their sovereign credit profiles.
|
|
Gambling firm Paddy Power and retailer Next were the top losers on the main index after downgrades by brokers.
|
|
Fitch said the downgrades apply to about $80 billion of notes outstanding and all national scale long-term issuances.
|
|
Instead, the state suffered budget shortfalls, downgrades in its credit rating and depletion of the state's rainy day fund.
|
|
The spate of ratings downgrades is making it harder for some of them to raise funds in capital markets.
|
|
But Deutsche has been plagued by three years of losses, ratings downgrades, failed stress tests, and money laundering scandals.
|
|
The downgrades reflect our expectations that GCX's liquidity could weaken significantly in the financial year ending March 2018 (FY18).
|
|
Under the system, fact-checking partners rate content with labels and Facebook then downgrades the distribution of certain items.
|
|
In countries with more speech freedom, the platform downgrades and deletes content and accounts for reasons that remain mysterious.
|
|
South African financial experts were not optimistic that the stark budget cuts would inhibit rating agencies from imposing downgrades.
|
|
Oil's slide has led to credit rating downgrades for some governments and companies with close state links, including banks.
|
|
"2019 guidance is more cautious on growth, but resilient margins and FCF should limit any downgrades," said Jefferies analysts.
|
|
" It prioritizes Jewish building and downgrades Arabic from an "official" language alongside Hebrew to one with a "special status.
|
|
That could lead to rating downgrades, Fitch said, which would make it more costly for companies to raise debt.
|
|
For a range of companies, ratings downgrades, debt defaults, mass layoffs and even – gasp – cuts to CEO bonuses loom.
|
|
Ratings agency Standard & Poor's said on Tuesday rising capital needs put Indian public sector banks at risk of downgrades.
|
|
During those tense market moves, Salvini said that the government would stand up against market attacks and debt downgrades.
|
|
They have been downgraded by one notch in line with the downgrades of the Credit Suisse's and CSGAG's VRs.
|
|
Downgrades can lead to additional selling pressure as bond holders like insurance companies move to offload lower-rated debt.
|
|
All this has led to dozens of ratings cuts, with 34 sovereign downgrades in 2015 compared with 18 upgrades.
|
|
Funded loans comprise 3.8% of loans, with approximately 61% rated investment grade, down from last quarter due to downgrades.
|
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In recent years, Deutsche Bank has been plagued by failed regulatory tests, ratings downgrades, big fines and management reshuffles.
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Conte warned in a newspaper interview of possible market shocks and credit rating downgrades if the procedure went ahead.
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There could be legitimate technical reasons for those downgrades, but that doesn't mean everyone has to be happy about it.
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The central bank governor said it was too early to tell if the downgrades would push the economy into recession.
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However, to avoid overwhelming its network, T-Mobile simultaneously downgrades the speed of video streams, leading to lower picture quality.
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Lennar and KB Home fell more than 2 percent Wednesday after Credit Suisse downgrades, along with Home Depot and Lowe's.
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The string of defaults by IL&FS led to a series of credit rating downgrades on the company to junk.
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A year ago, before the recent rating downgrades, yields on Brazil's 10-year global bonds were at around 4 percent.
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On the earnings front there has been no relief either, with Italian banks suffering 23 consecutive weeks of earnings downgrades.
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Right now, higher interest rates on its bonds are luring some in, but more downgrades would lead to forced selling.
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These problems led to downgrades that pushed the state's credit ratings to a notch or two above the junk level.
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The downgrades triggered the ejection of South Africa from some major debt indexes, which will push up its borrowing costs.
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So the sharp debt downgrades by Standard & Poor's may at least partially negate the positive impact on Gulf investor sentiment.
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Apple fell 2% and Juniper fell 4% following those downgrades, as the Dow slid over 100 points in Monday's session.
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For an explanation look no further than the supply growth downgrades coming out from research houses such as Wood Mackenzie.
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Africa's most industrialised country risks downgrades on its local currency debt rating from Moody's and S&P Global on Friday.
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Rauner defended the state's borrowing, which comes on the heels of last week's downgrades of Illinois' already-low credit ratings.
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Turkey and Argentina were also clobbered with economic forecast downgrades by the OECD, while South Africas economy too has slowed.
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Google had initially voiced some strong concerns about Binge On, complaining about the way it downgrades video to 480p resolution.
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The revisions are broad-based: America, Europe and the emerging world as a bloc all saw similar downgrades (see chart).
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The Robin also downgrades photos to screen resolution to clear up space; these can be restored really easily as well.
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The affair has rattled markets in Africa's most industrialized economy, which faces the risk of ratings downgrades later this year.
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Fitch said that the downgrading of Puerto Rico's credits contributed significantly to the par value of debt that incurred downgrades.
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First they face the tough task of winning back voters disillusioned with Zuma's rule and investors spooked by ratings downgrades.
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Turkey and Argentina were also clobbered with economic forecast downgrades by the OECD, while South Africa's economy too has slowed.
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The downgrades were a fresh sign of pressure on Dubai's economy, where the real estate and equity markets are slumping.
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In an SEC filing, GE warned that further downgrades could lift borrowing costs and potentially affect access to capital markets.
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However, further deterioration of some of the weaker banks could increase default risks for senior creditors, potentially leading to downgrades.
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The most immediate threat is the prospect of downgrades by credit ratings agencies that have been closely watching political developments.
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Goldman Sachs estimates that $765 billion worth of investment- and high-yield bonds have experienced ratings downgrades already in 2020.
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The downgrades were among many reasons the government has tightened some curbs on borrowing since the end of the autumn.
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On Monday, Deputy Prime Minister Matteo Salvini said the government will stand up against any market attacks or debt downgrades.
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Erdogan has repeatedly railed against credit raters, saying their downgrades of Turkey's sovereign debt to "junk" status were politically motivated.
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These incremental lifestyle downgrades help calibrate a rate of technological change that might otherwise produce a resting state of whiplash.
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They acknowledge the risk of earnings downgrades, saying growth estimates of 10% by several analysts and strategists are too high.
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I realized I would have to make downgrades in my family's quality of living in order to just continue onward.
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Trump downgrades the role of military advisers on his National Security Council in favor of Steve Bannon Trump downgrades the role of military advisers on his National Security Council in favor of Steve Bannon Steve Bannon will assume a seat on the National Security Council after an executive order signed by Donald Trump on Saturday.
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" JAMES BARRINEAU, HEAD OF EMERGING MARKETS DEBT RELATIVE, SCHRODERS "For Mexico, the downgrades will not come as a surprise to investors.
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The two downgrades will likely force PG&E to offer collateral and evict it from the biggest investment-grade bond index.
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There were no rating downgrades, however, from the Wall Street analysts who have almost universally backed the company's long-term prospects.
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France's Plastic Omnium slumped close to the bottom of the European benchmark, falling 7.04 percent after a flurry of rating downgrades.
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Credit downgrades typically drive up the cost of borrowing for companies, as some big investors will only buy investment-grade bonds.
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The downgrades aren't likely to force money managers to sell their gilt holdings, however, given the dearth of highly-rated debt.
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The best time to buy corporate bonds is early in an economic recovery, when downgrades and defaults are still under way.
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Adjusting for domestic ticket price inflation downgrades that accolade somewhat, placing Fallout as the fourth highest-grossing film in the franchise.
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This could lead to a spate of rating downgrades if state ownership shrinks to a minority stake, said Fitch on Wednesday.
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The increase has primarily been driven by the successive downgrades to Brazil's sovereign rating by Fitch over the past six months.
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Chris Christie of New Jersey, pointing out the state's credit downgrades during his tenure and contrasting that record with his own.
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The mounting liabilities have sent investors fleeing and prompted downgrades of its credit ratings, pushing it to the brink of bankruptcy.
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Speciality chemicals maker Victrex lost 7% and electrical engineering firm Spectris retreated 5.8%, after the stocks were slapped with rating downgrades.
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However profits at several companies have fallen considerably since 244 and a further deterioration could result in downgrades or Negative Outlooks.
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Cramer's interest is always piqued when a stock gets hit with a series of downgrades and then refuses to go lower.
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They said the downgrades could see the shares trading nearer the 11 pounds level than 12 pounds in the short term.
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Because the market has had an "incredible" run, many of these downgrades seem to be warranted and action oriented, Cramer said.
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Default could lead to more downgrades and higher borrowing costs for other struggling New Jersey cities such as Newark, its largest.
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A series of credit rating downgrades during the crisis has made it harder for Sri Lanka to tap international capital markets.
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Earlier this week, Moody's Investors Service placed seven Illinois universities on review for possible rating downgrades affecting $2.2 billion of debt.
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The company's shares have tumbled more than ten percent in the week since the news, and it faced multiple analyst downgrades.
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Telecom company Inmarsat was the top faller on the mid-cap index, down 5.1 percent after a series of broker downgrades.
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Click here for Cramer's insight Investors should take note of the downgrades analysts made on a collection of stocks, Cramer said.
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The ratio of upgrades-to-downgrades fell to 0.5x, extending a quarter-on-quarter deterioration from a 2016 high of 0.6x.
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There is a 20-year pattern of downgrades for poorer countries whenever the U.S. currency strengthens and their FX reserves drop.
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"Beyond full-year 2019, the lower start point and regulatory uncertainty we expect will drive further downgrades and caution," they wrote.
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The company's string of earnings downgrades come despite record migration driving the biggest building boom in living memory in New Zealand.
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That liability, along with chronic budget deficits, led to downgrades of the city's general obligation credit ratings and higher borrowing costs.
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That, along with a weak economy, contributed to sovereign credit ratings downgrades to junk by S&P Global Ratings and Fitch.
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Analysts have slapped downgrades and price target revisions on the name multiple times as a string of legal battles rattle investors.
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That followed ratings downgrades in late September for Dalian Wanda Commercial Properties and the conglomerate's subsidiary, Wanda Commercial Properties (Hong Kong).
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BlackRock said the number of analyst upgrades versus downgrades of global companies has tumbled to the weakest level since mid-2016.
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Credit ratings agency S&P Global Ratings on Thursday put nine cities and a school district on alert for possible downgrades.
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The energy sector has already endured a slew of defaults and credit downgrades after a downturn in oil prices in 2016.
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Education funding plummeted, and the state suffered multiple credit downgrades as Mr. Brownback played the mad doctor of supply-side economics.
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"On a longer term view you're now starting to see a break with the history of constant earnings downgrades," he added.
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That should please ratings agencies, which have warned of downgrades after President Jacob Zuma inexplicably fired the finance minister in December.
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S&P said that second phase of downgrades would be due to weaker macroeconomic fundamentals and declining GDP per capita levels.
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By that point, the stock will have likely caught some more downgrades – this happened so quickly today they couldn't downgrade it.
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On Wednesday, Europe's technology stocks were the worst performers, sliding 3.04 percent as a whole, amid a flurry of rating downgrades.
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However, it might not be the case for long, as looming downgrades could change the playing field for junk bond investors.
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" JAMES BARRINEAU, HEAD OF EMERGING MARKETS DEBT RELATIVE, SCHRODERS "For Mexico, the downgrades will not come as a surprise to investors.
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Analysts have revised down earnings estimates for the broader MSCI Europe, but downgrades seem to have stabilized as the results season developed.
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Despite the downgrades this month, the Dow has come within a third of a point of hitting the psychological mark of 20,000.
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"We believe this has been a direct consequence of investors' concerns about FX downgrades causing further downside risks to earnings," they said.
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"The global economic outlook continues to look a little on the soft side, even without this week's IMF growth downgrades," he said.
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Sixteen EM sovereigns are on Negative Outlook, of which half are heavily dependent on commodity exports, signalling that further downgrades are likely.
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Absa also anticipates more credit rating downgrades for South African sovereign debt with Moody's holding the country's last remaining investment-grade rating.
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A recent report by S&P Global, a credit-rating agency, plays down the risk of a rash of downgrades to junk.
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Goldman downgrades red hot Intuitive Surgical Investors should avoid Intuitive Surgical shares now on slowing growth and valuation, according to Goldman Sachs.
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Di Maio said he didn't expect downgrades because the country was on the "right track" to improving industrial production and growing exports.
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The industry downgrade isn't expected to drive up the cost of borrowing or affect corporate profits, as downgrades of specific companies do.
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This resulted in downgrades of 48 EU banks and their subsidiaries (see the link below for more detail on the rating rationale).
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Yet the overhang of gloom about weaker corporate earnings and the risk of increased downgrades and defaults has yet to lift completely.
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Nick Nelson, European equity strategist at UBS, said February saw the most aggressive downgrades to full-year earnings expectations for seven years.
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The central bank governor said it was too early to tell whether the downgrades would push the economy in to a recession.
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Despite the positive longer term potential, macro headwinds are mounting across Chemicals, refining & LNG, which drive material earnings downgrades to our numbers.
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To Cramer's surprise, the analyst community then added on to Amazon's pain with a wave of price target cuts and stock downgrades.
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Upside to the SRs and SRFs of all commercial banks is unlikely in the near term due to the downgrades and revisions.
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The government will be paying close attention to these downgrades as it prepares to unveil the 2.13 annual budget on March 24.
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They could also contribute to more credit downgrades after S&P cut Finland's top credit rating in 2014, undermining investor sentiment further.
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Despite recent downgrades by global rating agencies, these are likely to yield just 30 to 50 basis points above U.S. Treasury bonds.
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The action helped Illinois avoid credit rating downgrades that would have made it the first state to fall into the junk level.
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"He is expected to seek at all costs to avoid further sovereign credit rating downgrades," said Annabel Bishop, economist at Investec Securities.
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The big liability, along with years of budget deficits, led to downgrades of Chicago's general obligation credit ratings and higher borrowing costs.
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Sometimes, even though the company releases strong earnings, its stock price will definitely dive once this company downgrades its future profit outlook.
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The legal action, which shook markets and hit the rand, also comes as the country is bracing for possible credit ratings downgrades.
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And he expects the repercussions to slither their way into the pension system, an area that is highly susceptible to debt downgrades.
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" Roberts wrote in a note Tuesday that prolonging Zuma's grip on power would "increase economic damage and the likelihood of ratings downgrades.
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What I think I'm actually going to pay attention to and certainly everyone should start to look at are upgrades and downgrades.
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To achieve that Herrera must spur private investment and fend off downgrades from ratings agencies worried about indebted state-oil company Pemex.
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Ratings actions, however, usually always lag credit improvements, Assalin noted, hence the extremely high number of downgrades that happened in early-2016.
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But the share price collapsed and credit rating downgrades, management upheavals and a series of writedowns, asset sales and a fundraising ensued.
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The legislation downgrades the status of the Arabic language, promotes Jewish construction and affirms the exclusive right of Jews to self-determination.
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Because such firms make only enough money to cover interest payments, they risk defaulting or getting credit downgrades if the economy contracts.
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British government debt remains comfortably within investment-grade territory and financial markets have reacted little to past downgrades of major sovereign borrowers.
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The downgrades would have been worse, if not for retail sales figures that pointed to a solid, but slightly more cautious, consumer.
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A string of brokerage price target downgrades and French forward power prices falling to new decade lows only added to the gloom.
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The new law in New York downgrades the criminal penalty for the unlawful possession of pot from a misdemeanor to a fine.
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Downgrades in growth forecasts are now coming in thick and fast - Goldman the latest to cut China 2020 GDP estimates, by 0.4%.
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The thing I am worried about is if you get two or three triple-B downgrades to double-B or single-B.
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These sovereigns were among the commodity exporters that accounted for two-thirds of Fitch's emerging-market downgrades in the last two years.
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They have been experiencing the deepening budget crisis firsthand in shortened school hours and resources as the state suffered two credit downgrades.
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For roughly half the homes, the downgrades lowered their overall star ratings, which are the measures displayed most prominently on the site.
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A court later ruled the move unconstitutional, but the political turmoil led to credit rating downgrades and an outflow of foreign funds.
|
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A weakening economic and credit cycle could spark a slew of downgrades, with half of investment-grade debt in the lowest-rated rank.
|
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Not surprisingly, some big names have seen downgrades this week, including Disney and Boeing today, joining Coca-Cola, Goldman Sachs and Procter & Gamble.
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"They've given companies a lot more leeway," she said, and widespread downgrades could occur if the ratings agencies decide to become more stringent.
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After nine downgrades since Governor Chris Christie took office in January 2010, it is now the second lowest rated U.S. state behind Illinois.
|
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Disappointing manufacturing surveys from China and the UK, combined with downgrades to growth and inflation forecasts from the European Commission soured investor mood.
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O): Mizuho downgrades to "neutral" from "buy" on extreme risk of Obamacare being repealed or replaced Utilities ** American Water Works Co Inc (AWK.
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Away from the blue chips, Deutsche Bank's downgrades to PageGroup and Hays sent the stocks down 6.6 percent and 6.2 percent lower respectively.
|
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The RWN reflects the risk of further rating downgrades because Sunac's plan to acquire some assets of Dalian Wanda Commercial Property Co. Ltd.
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Look for him to become a regular again on MSNBC's "Morning Joe" and to forget, for now, about New Jersey's credit rating downgrades.
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The increased likelihood of further credit downgrades by Moody's and Fitch is set to put pressure on the rand this week, analysts said.
|
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"Rising uncertainty about the future of economic policy could prompt capital outflows in anticipation of such downgrades," the bank said in the report.
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Credit downgrades, pension problems and low approval ratings in his home state are all being looked at by other GOP operations for use.
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"If the deleveraging or other financial targets which were promised are not achieved, ratings downgrades could be expected in many cases," Beinstein wrote.
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Ratings downgrades can affect the financial system's creditworthiness and availability of funding, he said, saying that external financing to Mexican companies has slowed.
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To achieve that Herrera must spur private investment and fend off downgrades from ratings agencies worried about indebted state-oil company Pemex [PEMX.UL].
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Dixons Carphone fell 3.7% as last week's disappointing annual results prompted further rating downgrades of Britain's biggest seller of electricals and mobile phones.
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|
Asia markets struggled on Thursday and closed mixed, with the Japanese benchmark down more than 1 percent after Toshiba tumbled on credit downgrades.
|
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These moves were made shortly before the episode of the three finance ministers, which drew warnings of possible further downgrades from both agencies.
|
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The news raised the prospect of further credit rating downgrades and heaped pressure on President Jacob Zuma, who is already facing corruption allegations.
|
|
Markets are bracing for more downgrades in the Q2 earnings season due to rising input costs and a sharp depreciation in the rupee.
|
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The government said IL&FS was not making enough profits to take care of its interest expenses, leading to defaults and rating downgrades.
|
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The downgrades reflect the government's reduced ability - as reflected in the downgrade of the sovereign's FC IDR - to provide support to the banks.
|
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Both financial institution (FI) and industrial issuers recorded more downgrades than upgrades in 2015 and by the same margin of 1.5 to 1.
|
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Now, confronted with falling prices and slower consumption, steelmakers are facing the risk of credit downgrades, job losses and cuts in capital expenditure.
|
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Shares in the group were 4.7 percent lower at 88.20 euros by 0945 GMT, which traders attributed to expected downgrades across the board.
|
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It said the downgrades reflected its view that "the operating environment in Turkey has deteriorated, with negative implications for the institutions' funding profiles".
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"The bulk of the EPS downgrades is behind us and (we) expect earnings momentum to improve as we move into H2," he said.
|
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Zuma's decisions to fire not one but two respected finance ministers have played a major role in downgrades to the country's credit rating.
|
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Both top-rated and riskier corporate bond funds were hit again last week as investors worried about a raft of downgrades and defaults.
|
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The move stoked fears that further credit downgrades could significantly raise Pemex's financing costs and result in dire fiscal consequences for the government.
|
|
Outside of the blue chips, Deutsche Bank's downgrades to PageGroup and Hays sent the stocks down 7.2 percent and 6.5 percent lower respectively.
|
|
Bucking a trend of economic growth downgrades in the region, Taiwan's government in August raised its 2019 forecast, citing gains from factory relocations.
|
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In northern New Jersey, Drew University, reeling from credit rating downgrades, slashed tuition by 228 percent last fall, in hopes of boosting enrollment.
|
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However, with regard to sovereign rating downgrades in the pipeline due to the coronavirus, Gill pointed to Middle Eastern economies instead of China.
|
|
He flagged that the stock caught multiple downgrades from analysts, but found solace in that the stock is not far off its highs.
|
|
Magashule's comments will nevertheless worry credit rating agencies, which cite the strength of institutions like the central bank among factors preventing further downgrades.
|
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Chinese stocks, which have surged in recent weeks, came under pressure from the disappointing export data, broker downgrades and the gloomy ECB comments.
|
|
The World Bank's analysis looked mainly at foreign currency debt downgrades, but Moody's decision is related to the country's domestic rand-denominated debt.
|
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This points to the likelihood of a third consecutive year in which downgrades outnumber upgrades in this sector, possibly by a wide margin.
|
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One of the most drastic downgrades came from Dutch bank ING, which cut its forecast for Malaysia's 2020 growth from 4.5% to 3.5%.
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KEY RATING DRIVERS The rating actions follow Fitch's recent downgrade of Italy's Long-Term Foreign- and Local Currency IDRs to 'BBB' from 'BBB+' and subsequent rating action on Intesa Sanpaolo, ISV's parent company (see 'Fitch Downgrades Italy to 'BBB'; Outlook Stable' dated 21 April 2017 and 'Fitch Downgrades 5 Italian Banks' Following Sovereign Downgrade' dated 0003 April 2017 on www.fitchratings.com).
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But downgrades are embarrassing for May's Conservative government, which emphasised preserving the country's AAA rating when it embarked on an austerity programme in 2010.
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In the event of a downturn in the economy, we could see a wave of downgrades to junk status from the lowest investment grade.
|
|
At the start of the call, OHL's CEO, Tomas Garcia Madrid, vehemently pushed back on Moody's repeated downgrades, dubbing them "totally out of proportion".
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That sparked a share price collapse, writedowns and debt downgrades to junk status, forcing it to sell assets, raise $2 billion and cut jobs.
|
|
The firing lead at least in part to two credit downgrades to "junk" and a spike in investor concerns over the direction fiscal policy.
|
|
The aerospace and engineering group's outlook provided more evidence that its performance is starting to stabilize after a string of profit downgrades last year.
|
|
But downgrades are embarrassing for May's Conservative government, which emphasized preserving the country's AAA rating when it embarked on an austerity program in 2010.
|
|
John Bel Edwards warned that bond sales are expected to be "greatly limited" after credit downgrades from two of the three major ratings agencies.
|
|
The combined impact has been a collapse of its share price, credit downgrades, management upheavals and a series of writedowns, asset sales and fundraising.
|
|
Other than the class AB notes of Series 7503-1 SWAN Trust, the notes' ratings are independent of downgrades to the LMI provider's ratings.
|
|
There have been several high-profile downgrades of big banks as analysts have come to believe that banks have gotten way ahead of themselves.
|
|
Illinois moved an uncomfortable step closer to the previous triggers this month with downgrades to one notch above junk by S&P and Moody's.
|
|
But even with all of those issues and downgrades, the battery life on this phone is so remarkable that it makes it worth considering.
|
|
The ratings of the class AB notes of Illawarra 212001-1 are LMI dependent and therefore sensitive to downgrades of the LMI providers' ratings.
|
|
The rand firmed to 13.8 per dollar, its strongest in nearly three weeks, after South Africa avoided downgrades from Fitch and Moody's on Friday.
|
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The initial vote, however, helped snap a run of 20 consecutive weeks of growth forecast downgrades by Brazilian economists in a central bank survey.
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Critics say the legislation, which defines Israel as a Jewish state and downgrades the Arabic language&aposs status, marginalizes the country&aposs Arab minority.
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"They failed to adjust to the new reality, which is why this stock barely seemed to notice [its] downgrades," the "Mad Money " host said.
|
|
And Diane Vazza, head of global fixed-income research at Standard & Poor's, said many debt-laden retailers have already suffered credit downgrades this year.
|
|
Other recent downgrades have been of companies with sustainable business models but riskier capital structures following refinancings and recapitalisations in debtor-friendly credit markets.
|
|
It has been hit hard by the economic uncertainty and credit downgrades in South Africa, along with domestic peers Standard Bank, Nedbank and FirstRand.
|
|
"So further downgrades and rising political risk are likely to weigh on local assets in the coming weeks," including the beleaguered rand, he added.
|
|
S&P said the nation's fifth-largest state risks "entering a negative credit spiral" in which further credit downgrades could sap its weak liquidity.
|
|
Moody's on Friday placed Russia and Saudi Arabia on review for ratings downgrades, citing both countries' exposure to the struggling oil and gas industry.
|
|
The inability of issuers to obtain cost-effective unsecured funding via the bond or bank market could cause rating downgrades or negative outlook changes.
|
|
Noble stood by its accounts but a commodities downturn added to the turmoil, triggering a share price collapse, credit downgrades, writedowns and management changes.
|
|
French advertisers were also under pressure, with Publicis and JCDecaux down around 4 percent after downgrades by Exane BNP Paribas and Morgan Stanley respectively.
|
|
FI downgrades were substantially led by the removal of sovereign support from most EU bank ratings in May 203, reflecting developments in bank resolution.
|
|
Battles over the debt limit in 6900 and 2628 led to downgrades of the country's credit rating and spurred fears of a financial meltdown.
|
|
The downgrades forced GE to retreat from commercial paper, a form of cheap short-term borrowing relied on by businesses with strong balance sheets.
|
|
Of the 183 countries that were ranked using the report's tiered system, 29 showed enough progress to be upgraded, while 20 countries received downgrades.
|
|
It put Rome's A (low) rating under review last month and if it downgrades, that will pile additional pressure on the country's struggling banks.
|
|
Retailers were the worst performers on the FTSE 100 as downgrades from Citi sent Marks & Spencer and Next shares down 3.2 and 2.2 percent.
|
|
Overall the third-quarter earnings season has been marred by rolling sell-offs across global markets and marked by sharp downgrades to earnings estimates.
|
|
At least now, Illinois can start making headway on those unpaid bills and avoid further financial penalties and budget downgrades for not passing budget.
|
|
Other than the class AB notes of Series 2010-1 SWAN Trust, the notes' ratings are independent of downgrades to the LMI provider's ratings.
|
|
Funds could be forced to dump those holdings quickly in the face of downgrades because many are not allowed to invest in junk bonds.
|
|
Pension funds are among the large investors mandated to own investment-grade assets, though they usually do not have to sell immediately after downgrades.
|
|
The rating agency S&P says the coronavirus epidemic leads to downgrades of BMW and Daimler and the outlook on VW is now negative.
|
|
Some rivals such as France's Renault have struggled with sliding revenues and profits as well as lower cash flow generation, leading to ratings downgrades.
|
|
Standard and Poor's has issued more downgrades than upgrades for seven years as utilities struggle with overcapacity caused by a flood of renewable energy.
|
|
South Africa faces possible credit downgrades to junk that Treasury warns could push borrowing costs higher, sink the currency and hurt already ailing growth.
|
|
The downgrades are a direct reaction to lower oil prices, with nominal GDP in the country dropping by 13.3% in 2015, according to Moody's.
|
|
The ratings agency Standard and Poor's quickly weighed in with some downgrades and the rand fell about 2 percent at the start of trade.
|
|
In 2019, the franchisee saw its debt slide further and further into junk territory after credit downgrades from S&P Global Ratings and Moody's.
|
|
But losing the ability to both raise spending and curb debt and warnings of credit downgrades will further cloud the outlook for Abe's stimulus.
|
|
Investors have moved up the credit spectrum as Collateralized Loan Obligations (CLOs) position themselves for potential ratings downgrades that could trigger a market downturn.
|
|
The satellite company cut its outlook for the full year late on Thursday and was met with a spate of ratings downgrades on Friday.
|
|
The financial services (non-bank) sector has experienced more rating changes than banks or insurance over the past three quarters, with upgrades outweighing downgrades.
|
|
Even after the downgrades, Facebook still has a whopping 28 buy ratings on Wall Street, three hold ratings and two sells, according to TipRanks.com.
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In Vallourec's case, however, this has not been enough to stem further downgrades, as S&P cut it two notches to BB- on Tuesday.
|
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"The relatively minor downgrades... suggest that the next rate increase may not be far off provided that the economy evolves as expected," said Bullard.
|
|
Most analysts expect more downgrades, which will keep raising the cost of financing in a country that has some of the world's highest interest rates.
|
|
Fifth Third Bank Corp was hit with a slew of downgrades earlier this year, including three after the election from Bernstein, Baird and Compass Point.
|
|
One catalyst for the underperformance in the investment grade space has been the acceleration of rating downgrades at the upper end of the capital structure.
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He said the threat of ratings downgrades from DBRS for both countries adds to the concerns, as does the political situation in Italy in particular.
|
|
The change drove less than one percent of downgraded debt, and upgrades still topped downgrades when stripping out the effects of the change, Moody's said.
|
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"The downgrades reflect Moody's view that the operating environment in Turkey has deteriorated, with negative implications for the institutions' funding profile," the Moody's statement said.
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Ultimately, Cramer highlighted Randgold for the purpose of teaching investors how to spot a stock that will continue to rise in the face of downgrades.
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In March, auditors raised doubts about Asiana's financial statements, after which the airline reported steeper losses and bigger debts, triggering warnings of credit-rating downgrades.
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The perceived tussle between Zuma and Gordhan has rattled markets in Africa's most industrialized economy, which faces the risk of ratings downgrades later this year.
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The sharp increase in leverage was among the reasons behind rating agencies Standard & Poor's and Fitch's two-notch downgrades of Altria's credit rating in December.
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The number of downgrades and their severity were reduced considerably by the banks' improving stand-alone strength, largely resulting from tighter regulation, notably Basel III.
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Several signs point to increased risks around government-issued debt, as recent research reveals credit agencies issued three times more downgrades than upgrades to ratings.
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With over three months to go, 2016 looks set to be a record year in terms of the number of sovereign downgrades by Fitch Ratings.
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"While downgrades cannot be ruled out entirely, a moderate economic deterioration should harbour no major credit risks for UK banks," Commerzbank wrote in a note.
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Analysts hit the stock with two separate downgrades from buy to hold on worries that the economy is slowing, which would impact earnings, Cramer noted.
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Potential downgrades to the NFMRSR are limited in scope, given the fund's low sensitivity to interest rate and spread risks, and the fund's investment guidelines.
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Welch said Warren had raised concerns about the deal as early as January, saying it could trigger credit downgrades and an "implosion" of the company.
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By building its bot platform without MTProto, though, Telegram creates a situation where introducing a bot to a chat or channel essentially downgrades its encryption.
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It was a veiled swipe at Christie's state, which has suffered multiple credit downgrades and struggles with a massive pension fund problem during Christie's tenure.
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Downgrades or Outlook revisions will become more likely in the medium term if the impact on other economies proves severe or political tail risks materialise.
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Investors said they had expected stronger measures to avoid further downgrades, but were reassured by the commitment to more action in the future if required.
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Fitch will likely compress holding company notching if any further downgrades to the IFS ratings occur therefore the outlook on the holding company is Stable.
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For more information on the key sensitivities related to Finlombarda's ratings, see " Fitch Downgrades Finlombarda to 'BBB-; Outlook Stable" dated 8 May 2017 on www.fitchratings.
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Shares of the iPhone maker continued to sink, down almost 2216 percent mid-day Wednesday amid a slew of analyst downgrades after Tuesday nights' earnings.
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Sustained leverage of above 60% may result in rating downgrades following our review of its 2016 results which will be announced by end-March 2017.
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Japan's Toshiba nosedived nearly 26 percent on Thursday, marking a fifth consecutive session decline, after credit downgrades from both Moody's and S&P Global Ratings.
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The downgrades of Thermo Fisher's IDR in 2012 and 2013 reflected aggressive capital deployment that contributed to higher debt levels and deterioration of credit metrics.
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The fifth-largest state in the United States was hit last week with two downgrades that put its credit ratings just a step above junk.
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The peso currency, which has reacted negatively to recent downgrades, had ceased trading for the weekend before S&P published their latest guidance on Mexico.
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"The fall in the average rating is because more new corporate ratings were in lower rating categories and due to issuer rating downgrades," he added.
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ConAgra, Campbell Soup, General Mills, Kellogg, J.M. Smucker — A Bernstein report downgrades these prominent food companies to "underperform" from "market perform," citing weaker industry trends.
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While the Sensex is just a tad over 600 points away from its lifetime high, equity strategists are concerned about continued downgrades to corporate earnings.
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French advertisers were also under pressure, with Publicis and JCDecaux down more than 4 percent after downgrades by Exane BNP Paribas and Morgan Stanley respectively.
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Osborne has painted a decidedly bleak picture of the U.K. economy in recent media interviews, potentially preparing the country for growth downgrades in the Budget.
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Fitch downgrades the following ratings with Negative Rating Outlook: Genworth Life Insurance Company; Genworth Life Insurance Company of New York; --IFS to 'B+' from 'BB'.
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Fitch ratings agency warned Wednesday that there could be downgrades for Italian utility firms currently rated BBB+, if the country's rating is lowered to BB+.
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The negative credit rating bias worsened in 1Q17, with downgrades due to M&A the driving factor as deal activity grew by almost a third.
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"We have the outlook on the ratings still on negative indicating that further downgrade or downgrades could be in the wings going forward," he said.
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North America and APAC corporate finance rating activity was moderate by comparison, with a ratio of downgrades to upgrades of 244 and 220 to 1.50.
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One-third of the quarter's 6846 rating changes were downgrades of Brazilian banks, triggered by the two-notch downgrade of Brazil's sovereign rating to 'BB+'.
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Soon enough, the sellers emerge and analysts tackle all of tech with lower price targets and virulent downgrades, extending the selloff past the first day.
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Perceived rifts between Gordhan and Zuma have previously rattled markets in Africa's most industrialized economy, which faces the risk of ratings downgrades later this year.
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Meanwhile, Moody's Investor Service and Fitch have placed the company and its finance unit under review for possible downgrades, citing weakness in the power business.
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Management noted a "sudden softening in 4Q with a specific titan cloud customer," which sparked a slew of negative analyst notes and several rating downgrades.
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The zloty resumed its fall, losing 211 percent to the euro on fears Poland's plans for Swiss franc mortgage conversions will lead to ratings downgrades.
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"The midpoint of the new guidance implies 17 percent consensus earnings (EBIT) downgrades, and the 2020 guidance elimination will likely hurt sentiment," said UBS analysts.
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In the case of MUFG, SMFG and their respective principal bank subsidiaries, VR downgrades are likely to occur if the Japan sovereign rating were downgraded.
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Outside of the blue chips, Deutsche Bank's downgrades to PageGroup and Hays sent both stocks around 6.6 percent lower, the worst performing mid-cap stocks.
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The company, which has stood by its accounts, has also been buffeted by credit downgrades, management upheavals and a series of writedowns and asset sales.
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Fitch data showed ratings downgrades for non-financial emerging firms rose by a third in the first four months of 2016 from a year ago.
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With the risk of downgrades and defaults growing, the focus for investors then turns to who holds those liabilities, which could rapidly lose their value.
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" The new policy also suggested that downgrades could be avoided altogether, emphasizing that the agency must "fully consider the corrective actions taken by a bank.
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He also suggested credit rating firms would have to take into account the impact of the virus when making ratings changes, including potentially crippling downgrades.
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In December, UBS strategist Francois Trahan said slowing economic activity in 2020 could lead to credit downgrades for companies such as Amazon, 3M and Walmart.
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Noble has stood by its accounts but a commodities downturn added to the turmoil, triggering a share price collapse, credit downgrades, writedowns and management changes.
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MF Global's collapse also followed credit rating downgrades that referred to the debt, which had been moved onto the brokerage's balance sheet as of Sept.
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Wingstop has plans to take the world by storm, and despite some recent analyst downgrades, CNBC's is inclined to get behind the growing restaurant chain.
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Forecast downgrades are coming in thick and fast — one bank sees euro/dollar at $1.07 in 12 months' time versus a previous prediction of $1.15.
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Moody's said the potential exists for multi-notch downgrades depending on a university's liquidity and ongoing ability to adjust to the lack of state funding.
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Its analysis found the class A-4 notes displayed sensitivity to increased defaults, showing downgrades of one notch under Fitch's severe default (50% increase) scenario.
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But Medicare had warned the nursing homes in April that the downgrades would be coming if facilities continued to show no registered nurses on duty.
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To his supporters, Ramaphosa's business success equips him for the task of turning around an economy grappling with 28 percent unemployment and credit rating downgrades.
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However, it is probable that the sovereign downgrades lead to junk status for Pemex debt in the near term and that is the greater risk.
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"Cabinet reshuffles and downgrades by ratings agencies have caused further exchange rate volatility, which the consumer ultimately has to absorb," the company said in a statement.
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"Metro continues to suffer from acute uncertainty pending completion of its 350 million planned capital raise, dilution from which drives material EPS downgrades," Berenberg analysts said.
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"Given management guidance we see potential for consensus EBIT downgrades of over 10 percent and material share pressure near term," UBS analysts wrote in a note.
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The downgrades, some as many as five rating notches, added fuel to a sell-off that caused many investors to suffer big losses in their portfolios.
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JPMorgan downgrades NYSE owner ICE on valuation Shares of NYSE parent company Intercontinental Exchange are overvalued, JPMorgan told clients, downgrading the stock to neutral from overweight.
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After the coup, amid credit-rating downgrades and signs of an investment freeze, Turkey can ill afford to turn its back on its largest trading partner.
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The virus has disrupted air travel, driven holiday cancellations, factory closures and production cuts leading most economists to make deep downgrades to their China growth forecasts.
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The Treasury is under pressure to keep recent pledges to cut spending and reform governance at state firms to fend off credit downgrades deeper into "junk".
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Meanwhile, Spain's Enagas also tumbled to the bottom of the Stoxx 600 after a flurry of target price downgrades from RBC, J.P. Morgan and Kepler Cheuvreux.
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The downgrades were not surprising to many debt investors, and the other two major rating agencies, Moody's and Fitch, have much higher ratings for Saudi Arabia.
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Africa's most developed economy slipped into recession in the first quarter, compounding a slew of negative economic indicators including sovereign rating downgrades and stubbornly high unemployment.
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The downward revisions to the three quarters largely reflected downgrades to business investment, suggesting corporations likely did not plow their tax windfall back into their businesses.
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Still, South Africa's slow descent into political and economic pariah status was made complete, thanks to the one-two punch of S&P's and Fitch's downgrades.
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A dramatic collapse in its share price and ratings agency downgrades ensued, forcing a sale of its assets and a fund raising to allay financing worries.
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Royal Bank of Scotland dropped 25 percent and Barclays 18.7 percent, hit by broker downgrades and by JP Morgan's cutting its rating on all domestic banks.
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Uniper, which is opposed to the deal, hopes that the Finnish government could shy away given expected ratings downgrades for Fortum, one of the people said.
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Illinois' record-breaking budget impasse has been hard on the universities, which have been hit with rounds of bond rating downgrades over the past two years.
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Jeffrey Rosenkranz, head of taxable fixed income at Cedar Ridge Partners, cited restaurant giant Yum Brands as proof that Triple Bs were not immune to downgrades.
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While that made sense for companies looking at cheap funding costs, the downgrades affected their debt - and led to losses for the investors who own it.
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Simsek said on Wednesday he wanted steps to be taken to prevent ratings agencies from making "erroneous decisions", adding there was no reason for any downgrades.
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The downgrades of the subordinated debt ratings of ABank, Kuveyt Turk and YKB to 'BB+' from 'BBB-' reflect the downgrade of the respective banks' FC IDRs.
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It said the next largest issuer downgrades included Louisiana and Alaska and its related debt - roughly 6 percent and 3 percent of all downgraded par, respectively.
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It fell 4.3 percent on Wednesday after suffering broker downgrades from Deutsche Bank and Natixis, with total losses rising to nearly 10 percent in two sessions.
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Ballooning pension liabilities for some cities in the nation's sixth most populous state have led to budget cuts, tax increases, asset sales and credit rating downgrades.
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By some estimates, the stock market is pricing in sharper downgrades in corporate earnings for 226 than analysts are forecasting, suggesting that investors are overly pessimistic.
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Recent analysts' downgrades, a nearing lock-up expiration date and a rising short interest have created a cloud of negative sentiment around the social media company.
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Rating downgrades on eBay, Chipotle Mexican Grill and Cerner also pulled shares of the three S&P 500 components down between 1.7 percent and 4.6 percent.
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Sustained economic weakness leading to material deterioration in the market values of assets or lower demand for business could place UK insurers at risk of downgrades.
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Moody's Investors Service is warning of potential downgrades in its ratings that could hike borrowing costs for 69 U.S. exploration and production and oilfield services companies.
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Fitch would expect to downgrade the IFCQR if the South African sovereign is downgraded, leading to downgrades of the South African banks in which Southchester invests.
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It's just the latest salvo in a decades-long effort by printer manufacturers to block consumer choice, often by disguising printer downgrades as essential product improvements.
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Other big countries facing downgrades this year are Turkey and Poland, the former at risk of losing the investment grade status it gained only in 2013.
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While the downgrades were due mostly to damage from natural disasters, the BOJ's report said some firms fretted about the uncertain outlook stemming from trade frictions.
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Fletcher's shares closed at NZ$7.70 before the halt, having lost about a quarter of their value over 12 months on the string of earnings downgrades.
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They remain sensitive to further potential local currency depreciation or sovereign downgrades, which would result in higher risk weightings on foreign currency reserves and government debt.
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Investors are already panickingThe exchange-traded funds that track the high-yield and investment-grade segments indicate anxiety about downgrades is already showing up in markets.
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Andrew Cuomo (D) last month and took effect this week, downgrades the criminal penalty for the unlawful possession of pot from a misdemeanor to a fine.
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Such strategies relied on factors like price-earnings ratios, changes in analyst recommendations, credit rating downgrades, stock price momentum, industry momentum and failure to pay dividends.
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"We have a negative bias on most sectors in our rated China portfolio, meaning that credit downgrades are more likely than upgrades in 2020," Li said.
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Ratings agencies have also warned that Brexit could lead to downgrades for euro zone economies including Ireland, a potential setback for the bloc's fastest growing economy.
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Bucking a regional trend of growth downgrades, Taiwan in August raised its 2019 full-year forecast to 2.46% and predicted faster growth of 2.58% next year.
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When Nene was asked by local station Talk Radio 702 if the move would deter ratings downgrades, he answered, "I wouldn't say that yet," Reuters reported.
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Atlantia is now rated "BB" and Autostrade per l'Italia "BB+" and they both remain on watch for possible further downgrades given the uncertainty over the concession.
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The large amount of debt at at the bottom tier of investment grade means a wave of bond downgrades could threaten financial stability, the Fed said.
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The FTSE 250 tumbled nearly 1% as a steep fall in payment processing firm Finablr and stock downgrades by BofA Global Research exacerbated the broader gloom.
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Financial institution downgrades in 2016 declined to 8.6% from 14.1% in 2015, while upgraded issuers also moved lower year-over-year (YOY) to 6.6% from 9.2%.
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Convatec however, which had plummeted 26 percent after a profit warning on Monday, bounced back 3.9 percent, despite several broker downgrades on the medical devices maker.
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Moody's cut the ratings of Lippo and its dollar bonds to B3 in September, while Fitch and S&P rate them at CCC+ following recent downgrades.
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Public Storage biggest sector loser down ~5 pct as Goldman downgrades to "sell" on slowing same store growth, elevated supply concerns ** Consumer Staples fall 1.8 pct.
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Italian Deputy Prime Minister Matteo Salvini said this week the government would stand up to any market attacks or debt downgrades that may come its way.
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Despite the downgrades, BT said it still expected to increase its dividend per share by at least 10 percent in both 2016/17 and 2017/18.
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The company now flags and downgrades so-called fake news stories, using outside fact-checkers to identify them so Facebook can cut their reach in News Feed.
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The ratings of all foreign-currency denominated senior debt issued by BOC and NSB have been downgraded by one notch to reflect the downgrades of the IDRs.
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Shares of Vale plummeted amid a wave of investment bank downgrades, as fines and penalties began to mount and the ultimate impact on Vale's finances remained uncertain.
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"If Fitch downgrades Turkey, the banking sector's capital adequacy ratio will fall 225-2993 basis points," said Sadrettin Bagci, a banking analyst at Istanbul-based Deniz Investment.
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Some of the companies under the Reliance Group conglomerate, controlled by businessman Anil Ambani, have been hit by a spate of credit ratings downgrades and auditing issues.
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His more famous downgrades happened ahead of the dot-com bubble bursting near the turn of the century, as well as the more recent subprime mortgage crisis.
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S&P downgrades Murray to default status Unlike many of its peers, Murray Energy was able to overcome the shrinking demand from utilities by focusing on exports.
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Growth is forecast to remain slightly above an annualized rate of 2 percent in each quarter through end-2017, with slight downgrades compared to the June poll.
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"Thyssenkrupp management are known to provide conservative initial guidance and we do not expect material consensus estimate downgrades," wrote Jefferies analyst Seth Rosenfeld, who rates Thyssenkrupp "buy".
|
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Stocks to watch on Wednesday include Nike, which fell over 2 percent in extended hours' trade after reporting disappointing earnings, which predicated a wave of analyst downgrades.
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The U-turn triggered ratings downgrades from Citibank, JP Morgan, Deutsche Bank and Jefferies and knocked shares in peers such as Covestro, Evonik, Lanxess and Wacker Chemie.
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Illinois also pays a bigger penalty than other states in the U.S. municipal bond market after six credit downgrades since 2015 by the three major rating agencies.
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Losing it would "be a blow to confidence" and could lead to a rash of downgrades for Australian banks and companies, the opposition Labor Party has warned.
|
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The Singapore-listed company, hit hard by credit rating downgrades, expects improved credit conditions to boost its business following tightening of credit lines in the latest quarter.
|
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Investor confidence has been subdued by political uncertainty following the axing of respected finance minister Pravin Gordhan in March and a subsequent credit downgrades to sub-investment.
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But recent downgrades by credit rating agencies S&P and Moody's limit Casino's access to the bond market while Rallye has already pledged all its Casino shares.
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|
Standard & Poor's stripped Britain of its last remaining top-notch credit rating, dropping it by two grades from "AAA" to "AA" and warning more downgrades could follow.
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And again, whether it's an equity analyst, whether it's the rating agencies -- witness the downgrades, or what we've said ourselves, we need to bring the leverage down.
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While the company has stood by its accounts, the crisis triggered a share price collapse, credit downgrades and writedowns, as well as fund-raising and management changes.
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Although South Africa's official currency, the rand, has taken the downgrade on the chin, investors say the fallout from the downgrades appears contained—at least for now.
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But an important question for investors is whether increased budgetary discipline is enough to save Italy from further ratings downgrades, says ING rates strategist Martin van Vliet.
|
|
President Jacob Zuma's midnight sacking of his finance minister shook South African financial markets and increased the chances of costly downgrades to its investment grade sovereign ratings.
|
|
With local money drying up and foreign loans becoming more expensive after the recent downgrades, South Africa has moved closer to the brink of a funding problem.
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CHICAGO, June 2 (Reuters) - Chicago remains vulnerable to bond rating downgrades without comprehensive changes to the city's municipal and laborers' retirement systems, Standard & Poor's said on Thursday.
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Finally, Cramer looked into Google parent Alphabet, another stock that investors find hard to hold due to a barrage of negative commentary and downgrades from Wall Street.
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Illinois, which has the lowest credit ratings among the 50 states, evaded downgrades to junk in the wake of the budget enactment and an income tax increase.
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Meanwhile Moody's has threatened downgrades on a trio of online lending securitization deals it has rated, because the performance of loans was worse than they had anticipated.
|
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It would also "be a blow to confidence" and could lead to a rash of downgrades for Australian banks and companies, the opposition Labor Party has warned.
|
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South Africa has entered recession for the first time in eight years, data showed on Tuesday, piling pressure on a government facing corruption allegations and credit downgrades.
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A sovereign downgrade of Italy would most likely lead to downgrades of Banca Nazionale del Lavoro, Credito Emiliano , Intesa Sanpaolo, Mediobanca, UniCredit and Unipol Banca, it said.
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The ratio of downgrades to upgrades reached 1.5 to 1, compared with a moderate 0.9 to 1 in 2014, according to a new report by Fitch Ratings.
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Among the deepest profit downgrades have been for the technology and communications sectors that had carried the market higher through the latest stages of the bull market.
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VRs Downgrades of VRs could result from capital erosion due to further marked deterioration in asset quality without sufficient and timely support being made available by parents.
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He has also been politically hobbled by a dismal economy that was hit by damaging ratings downgrades earlier this year after he sacked a respected finance minister.
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The slide continued into Friday's regular session, with shares on track for their worst daily performance since going public in 2414, amid a slew of analyst downgrades.
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That's the likely result of Illinois' latest round of budget troubles, punctuated most recently by twin downgrades from the two major credit rating agencies late last week.
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The downgrades will likely be minor and reflect the effect of recent oil price falls, companies' reluctance to raise prices and weak inflation expectations, the sources said.
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"In most places we are still seeing ratings downgrades coming through but at a slower pace," said Marcelo Assalin, head of emerging debt at NN Investment Partners.
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"The full extent of the economic fallout is still unknown, and equity and credit markets still face considerable risks from earnings, downgrades and regulatory changes," Robertsen said.
|
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Part of Virgin Galactic's acceleration of losses on Thursday — the stock finished Wednesday's session with a decline of 15.5% — was due to two downgrades on the Street.
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The downgrades of Deutsche Bank's Short-Term IDR and short-term debt ratings to 'F2' reflect mapping to a 'BBB+' Long-Term IDR on our rating scales.
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"The bias is for the default USD bid to persist on risk of further growth downgrades and chronic Japanese and European weakness," the analysts said on Friday.
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A cross-selling scandal at the bank made headlines for much of 2017, culminating in a series of fines, downgrades and subsequent unfavorable findings by independent investigators.
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"It will likely prompt further risk rating downgrades in their (banks') SNC portfolios, which may lead to further provisioning," said Julie Solar, a senior director at Fitch.
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However, if those expectations decline and turn negative, it could amplify debt downgrades for S&P 500 companies and in turn, hit their stock prices, he proposes.
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To his supporters, Ramaphosa's business success makes him well-suited to the task of turning around an economy grappling with 28 percent unemployment and credit rating downgrades.
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But MPC member Brian Kahn said the central bank needed to act cautiously because further downgrades caused by political uncertainty may have a more severe impact on markets.
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|
"Schindler will provide net profit guidance alongside its half year results but small downgrades seem likely after the Q1 miss,", Liberum analyst Ryan Gregory said in a note.
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Add to that continuing analyst downgrades and reports of slowing demand for iPhones, and not only has Apple's stock been struggling, but so have its investors, Cramer said.
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However, more severe downgrades could occur if the bank's performance worsens materially beyond expectations or litigation and regulatory charges are substantially more than provision levels and earnings capacity.
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MILAN (Reuters) - Disappointing earnings updates and a series of broker downgrades weighed on European shares on Friday, with regional indexes posting their second weekly fall in a row.
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Policy uncertainty during Zuma's tenure and a worsening fiscal picture led to credit rating downgrades to "junk" status and deterred much-needed investment by foreign and local companies.
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China is deeply upset and downgrades the level of attendance of Chinese officials at a concert given by Kim Jong Un's hand-picked girl band, the Moranbong Troupe.
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The downfall also sparked a heap of fury on Wall Street, igniting a slew of analyst downgrades and price target cuts from the likes of Oppenheimer and Macquarie.
|
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For more details on the banks' pre-acquisition financial profiles, please see 'Fitch Downgrades Tsesnabank to 'B', Affirms 5 Other Kazakh Banks' dated 20 December 7503 at www.fitchratings.com.
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It downgrades the sound from two 3-inch drivers and a subwoofer to a pair of 2.5-inch stereo drivers, but it also takes up dramatically less space.
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"Global Markets has been the main cause of consensus earnings downgrades over the past year and with these results has now shown signs of stabilizing," Citi analysts said.
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Rating agencies, which have pushed Illinois down the credit scale six times to a level two steps above junk since January 2015, have signaled more downgrades are possible.
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Myer shares were down 2 percent at 42 Australian cents in mid-afternoon, hovering near record-lows it has traded at in recent months following three profit downgrades.
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He added that "downgrades by all three agencies are warranted," despite the fact that investors appear to have been purchasing South African assets with enthusiasm in recent weeks.
|
|
On the mid-cap index, Dixons Carphone dropped 5% as last week's disappointing annual results prompted further rating downgrades of Britain's biggest seller of electricals and mobile phones.
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The move is the latest in a series of writedowns on resource assets and downgrades of earnings forecasts by miners in the face of a global commodity slump.
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|
In a nutshell: Harris made the case that today's technology downgrades humanity by creating a vast artificial social system powered by "overwhelming" AI and an "extractive" attention economy.
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The U-turn triggered ratings downgrades from Citibank, JP Morgan, HSBC, Deutsche Bank and Jefferies and knocked shares in peers such as Covestro, Evonik, Lanxess and Wacker Chemie.
|
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There were 61 downgrades to sovereign risk by credit agencies compared to 19 upgrades in the second quarter, according to a study from IHS Markit published this week.
|
|
S&P's net downgrade rate (number of total downgrades minus upgrades) is at the worst level on an annualized basis since 2016, the agency said in a release.
|
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Decent harvest prospects across Europe, despite some forecast downgrades in Russia, and stiff export competition illustrated by an Egyptian tender on Wednesday hung over the market, capping gains.
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|
Earlier on Monday, S&P stripped Britain of its last remaining top-notch credit rating, slashing it by two notches and similarly warning that more downgrades could follow.
|
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"External and domestic contexts could result in significant shocks ... especially if accompanied by further downgrades of local currency sovereign credit ratings to below investment grade," the fund said.
|
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MILAN (Reuters) - Italian Deputy Prime Minister Matteo Salvini said on Monday the government will stand up any against market attacks or debt downgrades that may come its way.
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Major rating agencies, which have pushed Illinois down the credit scale six times since Governor Bruce Rauner took office in January 2015, have signaled more downgrades are possible.
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Market watchers said the downgrades should not affect efforts to tap Mozambique's vast natural gas reserves because the private sector will raise the debt needed for such projects.
|
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Ramaphosa, who replaced Zuma in February, has made reforming state-owned firms a priority as he seeks to bolster economic growth and stave off sovereign credit ratings downgrades.
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It hurt Temer's efforts to pass deficit-cutting legislation needed to avert further sovereign debt rating downgrades and pull the economy out of a three-year long recession.
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The fall in oil prices caused a number of sovereign credit-rating downgrades over the past year in the Gulf region, including in the case of Saudi Arabia.
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Our credit rating was recently downgraded, and we've been warned that, should we fail to address the massive imbalance between our spending and revenue, further downgrades are likely.
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The measures highlight challenges facing policymakers as they try to meet fiscal rules, curb growth of public debt and avoid further sovereign credit downgrades amid rising government spending.
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During 2018, the bond market was hit by concerns there would be a higher fiscal deficit and possible sovereign rating downgrades, but the worries have started to wane.
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Rating agencies, which have pushed Illinois down the credit scale six times to a level two steps above junk since January 2015, have signaled more downgrades are possible.
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Zuma's supporters say the former president, whose nine years in power were marked by economic stagnation and credit rating downgrades, is the victim of a politically-motivated witchhunt.
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Shares in heating and plumbing supplies group Wolseley fell 1.1 percent, following broker downgrades on the stock, while the FTSE 350 Construction & Building Materials Index fell 0.1 percent.
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The 12.2% share of corporate finance issuers affected by downgrades increased from 443% a year earlier, while the 8.1% share of upgrades grew modestly from 7.5% in 2014.
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The downgrades cap a tough week in which the peso lost nearly 20% of its value, forcing the central bank to eat into its reserves with dollar auctions.
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While Noble has stood by its accounts, the upheaval triggered a share price collapse, credit downgrades, a series of writedowns, as well as fund raising and management changes.
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Juniper Networks was down 11.5 percent at $23.50 and Qualcomm was off 3.6 percent at $45.78 after both companies issued grim forecasts, prompting a slew of rating downgrades.
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The drop began after a sell-off in the company's 2020 bonds this week, following the recent rating downgrades and reported delays in the repayment of some loans.
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Zuma, whose nine years in power were marked by economic stagnation and credit rating downgrades, has previously said he is the victim of a politically motivated witch-hunt.
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Zuma's sacking last year of Finance Minister Pravin Gordhan triggered downgrades of South Africa's credit rating to junk status, significantly raising borrowing costs for Africa's most industrialized economy.
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Despite the downgrades, the survey's measure of economic conditions for the next 12 months rose 7.0 percent, while the measure for the next five years climbed 3.8 percent.
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Snider upgraded real estate investment trusts to "neutral" from "underweight" because they've struggled especially badly, and downgrades utility stocks to "underweight" from "neutral" since they've fared somewhat better.
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Despite the share massacre that prompted a series of price target cuts and stock downgrades, most analysts stayed away from an outright "sell" rating on department store stocks.
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Even though this earnings revision ratio is nearing previous non-recessionary lows, BlackRock sees room for more downgrades because of trade tensions and pressure on corporate profit margins.
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Neither of those downgrades are deal-breakers as far as we're concerned, and the B9 still has some of the best picture quality that we've seen this year.
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As the "Mad Money" host reviewed Wall Street's latest research on Wednesday, he noticed an unusually high number of analyst upgrades and an unusually low number of downgrades.
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As the "Mad Money " host reviewed Wall Street's latest research on Wednesday, he noticed an unusually high number of analyst upgrades and an unusually low number of downgrades.
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LONDON/NEW YORK (Reuters) - A wave of credit rating downgrades in the corporate sector risks deepening a funding crisis for company bosses and spreading it to other markets.
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The controls come after markets reacted sharply to sovereign debt downgrades by rating agencies after the government announced its plans to "re-profile" some $2722.8 billion in debt.
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"We found that the credit impact of the activism was largely unfavorable, albeit only moderately so, with most related downgrades being of one notch", the rating agency wrote.
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Reduced demand for travel has cut into earnings of U.S. airlines, which has led to ratings downgrades of Boeing Co and carriers including American Airlines Group and Lufthansa.
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LONDON/NEW YORK (Reuters) - A wave of credit rating downgrades in the corporate sector risks deepening a funding crisis for company bosses and spreading it to other markets.
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Analysts expect small downgrades for near-term growth due to the impact from bushfires and a rapidly spreading coronavirus that has left parts of China in a lockdown.
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"Macy's needs to show something good, some growth, or I predict more debt downgrades and a stock that can't even hold the $2.53 level," the host said. Salesforce.
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More downgrades followed, and in December, Standard & Poor's dealt the territory a rare "superdowngrade" — seven notches in one fell swoop — leaving it squarely in the junk-bond realm.
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But those games still require developers to port them over, and often result in graphical downgrades or poor performance (not to mention the requirement to buy them again).
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On Tuesday, Carlson devoted airtime to concerns that a ballot initiative passed in 2014 that downgrades shoplifting from a felony to a misdemeanor was making private enterprise impossible.
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It was hit by broker downgrades in the previous session, and on Thursday Deutsche Bank provided more bearish comments on the stock, initiating coverage with a "sell" rating.
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Shares in heating and plumbing supplies group Wolseley fell 1 percent, following broker downgrades on the stock, while the FTSE 350 Construction & Building Materials Index fell 0.3 percent.
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"The list can easily exceed its prior peak if downgrades of single-B securities continue at the current pace," Moody's said in a research report released on Wednesday.
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Juniper Networks was down 9.6 percent at $24 and Qualcomm was off 2.8 percent at $46.20 after both companies issued grim forecasts, prompting a slew of rating downgrades.
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The downgrades will be premised on Italian plans to boost spending to boost growth and the impact on a debt ratio that's already one of the world's worst.
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Alongside downgrades from ratings agencies Moody's and S&P moving Turkey's debt closer into non-investment — or junk — territory, experts now predict a recession within the next year.
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We therefore think the central bank is likely to announce a 'quantum leap' in risk asset purchases when it likely downgrades its growth and inflation forecasts in April.
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Royal Bank of Scotland and Barclays dropped 15 percent and 17.3 percent respectively, also hit by broker downgrades and by JP Morgan's cutting its rating on all domestic banks.
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The rating actions follow Fitch's downgrade of the Saudi Arabian sovereign (see 'Fitch Downgrades Saudi Arabia to 'AA-' from 'AA'; Outlook Remains Negative' dated 12 April 2016 on www.fitchratings.com).
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European shares were sluggish in early deals after the previous session's strong recovery, with the STOXX 22.1 index falling back 1.23 percent as disappointing company results and downgrades weighed.
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The government is considering the offer because of "difficulty in borrowing money after recent ratings downgrades," the source said, declining to be named as the information was not public.
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The downgrades and Bank of America's reduced estimates for housing starts came after the Commerce Department said Wednesday that building permits fell 5.3 percent last month, more than expected.
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A significant dilution in ownership by the parent or perceived weakening of support for MIF would exert downward pressure on MIF's ratings, including the possibility of multi-notch downgrades.
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"Today's UK current account data may get more attention than usual, given the overhang of political uncertainty and rating agency downgrades this week," RBC analysts said in a note.
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Cyril Ramaphosa, who succeeded him as president, has promised to crack down on graft and revive a stagnating economy that lost momentum and suffered credit downgrades during Zuma's tenure.
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Slowing trade flows will curb growth in other Asian countries, but fiscal indicators have been improving in many economies, so there is no great risk of downgrades, Tan said.
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Potential downgrades to the Fund Market Risk Sensitivity Ratings are limited in scope, given the funds' low sensitivity to interest rate and spread risks, and the funds' investment guidelines.
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At the bottom of the blue-chip index, however, were British miners as downgrades hit BHP Billiton, which fell 3 percent, pulling down its peers in a troubled sector.
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The country is beset by low growth the fallout from credit downgrades by S&P Global Ratings and Fitch and in-fighting in the ruling African National Congress (ANC).
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"That is a very clear signal that we see sovereign risks as on the downside and you can expect a further heavy flow of downgrades in 2017," said Parker.
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"The second quarter of 2016 saw commodity-related downgrades reach record levels," Jan Randolph, director of sovereign risk at IHS Global Insight, said in a press release on Tuesday.
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The firm's woes led to a series of credit rating downgrades on the company and its subsidiaries that hold some of its 910 billion rupee ($12.34 billion) debt pile.
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Deutsche Bank has been plagued by failed regulatory tests, ratings downgrades, big fines and management reshuffles in recent years and posted its first profit in four years in 2018.
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Loan-impairment charges (LICs) would rise to 2852% of loans under the severe scenario, and is likely to lead to ratings downgrades if such a scenario were to materialise.
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Even though European earnings are expected to rise 8 percent this year after growing 12 percent in 2017, over the last few weeks analysts' earnings downgrades have outnumbered upgrades.
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On output, the BOJ cut its assessment for seven out of the nine regions - the biggest number of downgrades since 2013 - due to weakening demand for semiconductor and machinery.
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But these bonds could prove a source of positive returns for investors, BAML said, noting that downgrades often unleashed buying interest from funds which invest in high-yield debt.
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Noble was plunged into crisis in 2015 when Iceberg Research started questioning its accounts, resulting in sharp share price falls, credit downgrades and its bonds trading at distressed levels.
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While relatively few credit downgrades have been prompted by natural disasters or climate risks, S&P said that number could rise if climate risks increase and are not mitigated.
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The oil-producing state is currently grappling with a multibillion-dollar budget deficit caused by sustained low crude prices, which led to a series of credit downgrades this year.
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The tax-supported sector — which includes cities, counties and school districts — were about 1143 percent of upgrades and 60 percent of downgrades, said Barbara Rosenberg, senior director at Fitch.
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But as Microsoft downgrades the importance of software and elevates the importance of cloud, it no longer sees the benefit of giving its software away to its qualified partners.
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It said it was likely to conclude the review by the end of the first quarter which could include multiple-notch downgrades for some companies, particularly in North America.
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The downgrades follow the expiration of the 30-day grace period after the company failed to pay interest of USD56 million on its USD1.1 billion 2019 senior secured notes.
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A significant weakening of the propensity of parent banks to provide support (not expected by Fitch at present) to subsidiary entities could result in downgrades of the subsidiaries' ratings.
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Bayer has investment-grade ratings from S&P, Moody's and Fitch, but all three agencies said they were reviewing their ratings for possible downgrades following the offer for Monsanto.
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DURBAN, South Africa (Reuters) - South Africa is capable of quickly addressing concerns raised by credit ratings agencies to avoid further downgrades, central bank governor Lesetja Kganyago said on Thursday.
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After 20 EM downgrades last year, Fitch has already cut seven countries since the start of this one, including Turkey, South Africa and Saudi Arabia, and El Salvador twice.
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Potential downgrades to the Fund Market Risk Sensitivity Rating are limited in scope, given the fund's low sensitivity to interest rate and spread risks, and the fund's investment guidelines.
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We could have a strategy of hardening our collective infrastructure to improve its security, but the daunting list of upgrades (or downgrades) that would require would be ruinously expensive.
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Growth - particularly in the US, the UK and Mexico - drove a modest USD3bn increase (1Q244: USD2.4530bn increase) in RWA, and credit quality downgrades increased RWA by USD21191bn (244Q: USD2.4bn).
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He has been hobbled by downgrades to Deutsche's credit ratings, while the bank's U.S. subsidiary has failed a Federal Reserve test of its ability to withstand a financial crisis.
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The downgrades underlined the damage to state finances in the region from cheap oil, and the likelihood that governments will have to pay more in future to fund themselves.
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The move effectively downgrades American representation to the Palestinians, dealing them another blow after President Trump reversed longstanding American policy and recognized Jerusalem as Israel's capital late last year.
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However, its market share has dwindled since the financial crisis and it has been plagued by three years of losses, ratings downgrades, failed stress tests and money laundering scandals.
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While Wynn and Estée Lauder are two of the only downgrades CNBC spotted so far on Monday, other analysts are raising flags about the coronavirus' impact on singular stocks.
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"The world's leading dozen listed apparel retailers have, on average, seen earnings downgrades of almost 40% since the beginning of 2016," he wrote, citing Datastream and Morgan Stanley data.
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In 2015, a wave of downgrades pushed utilities' debt to mid-BBB level, two notches above non-investment grade and S&P keeps most big firms on negative outlook.
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"The downgrades reflect Moody's view that the operating environment in Turkey has deteriorated, with negative implications for the institutions' funding profile," Moody's said in its downgrade late on Thursday.
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Nvidia, Micron — Shares of the two chip stocks dropped 4.1% and 5.3%, respectively following downgrades from Wall Street firms worried about the coronavirus and its impact on global growth.
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KEY RATING DRIVERS IDRS, VR, DCR, DEPOSIT AND SENIOR DEBT RATINGS DEUTSCHE BANK The downgrades reflect continued pressure on Deutsche Bank's earnings, combined with prolonged implementation of its strategy.
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On the other hand, chip-making machine maker Screen Holdings , fell 7.6% after declining by its daily limit of 19.3% on Thursday, following surprise downgrades to its earnings estimates.
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Standard & Poor's Ratings Service stripped Britain of its last remaining triple-A credit rating, on Monday chopping it two notches to double-A and warning more downgrades could follow.
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Poor economic data and political conflict has blighted South Africa's prospects, with the sovereign losing its investment-grade status in April after downgrades from both S&P and Fitch.
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"There are still difficulties but people are at least happy there were no further downgrades," said Angus Gluskie, a portfolio manager at White Funds Management, which holds Crown shares.
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Gundlach said the U.S. corporate bond market is at its most vulnerable point to date and a wave of rating downgrades would be hard for the market to absorb.
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Two big downgrades among the market plunge have taken hotel stocks down even further, but strategist Matt Maley says two of hospitality stocks are starting to reach buyable levels.
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Downgrades would be disastrous for the government of President Andres Manuel Lopez Obrador because they would complicate his plans for ambitious social spending and instead force budget-cutting actions.
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The evaporation of synergies that analysts had estimated at more than Sprint's $2130 billion market capitalization triggered several broker downgrades and sent Telekom's stock as much as 270.7 percent lower.
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Leonardo lost around a fifth of its value after the state-controlled Italian aerospace and defense company cut its 2017 targets, prompting a raft of broker downgrades on the stock.
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It slumped 4.4 percent after price target downgrades from Deutsche, Bank of America/Merrill Lynch and Nomura, taking total losses since it reported the results to more than 10 percent.
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Wall Street analysts, who have recently been peppering Apple's stock with downgrades, are concerned the tech giant will suffer declines in iPhone unit sales over the next couple of years.
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Telkom, in which the government holds a direct stake of nearly 214.3984 percent, is grappling with an economy that is barely growing amidst political uncertainty and sovereign credit rating downgrades.
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In terms of credit quality, Citi reported flat corporate non-accrual balances, following a substantial increase in non-accrual loans last quarter given downgrades in its North America energy portfolio.
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Its analysis found that collectively the class A and B notes' ratings were susceptible to downgrades under Fitch's mild (10% increase), moderate (25% increase) and severe default (50% increase) scenarios.
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NPC International, Pizza Hut's largest U.S. franchisee, saw its debt slide further and further into junk territory in 2019 after credit downgrades from both S&P Global Ratings and Moody's.
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Gundlach said the possibility that a third of corporate BBB-rated bonds would receive downgrades sounds similar to the bundle of risky securities that blew up during the financial crisis.
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Brokerage Peel Hunt on Friday cut its forecast for Moss Bros' full-year profit before tax by 1.8 million pounds to 0.5 million pounds, with similar downgrades to future years.
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The downgrades come, importantly, as the U.S. data has improved somewhat, especially business survey data with the conclusion of a U.S.-China trade deal, and a blockbuster January jobs report.
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Recent downgrades to global economic growth forecasts suggest the crude market is not out of the danger zone, Harry Tchilinguirian, global head of commodity markets strategy BNP Paribas, said Thursday.
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Potential downgrades to the Fund Market Risk Sensitivity Rating are very limited in scope, given the fund's low sensitivity to interest rate and spread risks, and the fund's investment guidelines.
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Australia is already a bit priced out of international trade and if we see quality downgrades, it is going to be very tough to find a market for those supplies.
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The ratings are also sensitive to a change in the shareholders' ability to provide support, such as multiple downgrades of the sovereign ratings (of the shareholders) from the current levels.
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It has swelled 150 bps this year, the most since 2011, as Rome's budget plans create tension with the European Union and put Italian credit ratings at risk of downgrades.
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Any significant dilution in ownership by, or perceived weakening of support from, the parent would exert downward pressure on the ratings of MIF, including the possibility of multi-notch downgrades.
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This commingling occurred as margin calls, credit rating downgrades and Corzine's big wager on European sovereign debt left customers and investors increasingly worried about the New York-based company's survival.
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Genel shares have plunged after two downgrades to reserves at Taq Taq, failed exploration campaigns in Africa, political unrest in Iraq and a sharp drop in oil prices since 2014.
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It slashed the forecast for Latin America and the Caribbean downward by 0.8 percentage point to just 0.6% in 2019, reflecting downgrades to the forecasts for Brazil, Mexico and Argentina.
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Less than 12 months since his appointment under controversial circumstances, Gigaba is faced with unemployment at record levels, a dire growth outlook and potential credit downgrades deeper into junk territory.
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The fight over same-sex marriage has overshadowed other key issues in the race, like a widening budget deficit which has triggered four credit downgrades over the last five years.
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Finland, Greece and Ireland are scheduled for rating reviews after the market close, with the focus on Finland, which may drop out of AAA bond indexes if Fitch downgrades it.
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They are heavily dependent on wholesale funding sources such as bonds, whose costs have surged following the downgrades, and exposed to the effects of economic problems such as rising unemployment.
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The downgrades come after the Japanese firm announced Tuesday it might have to recognize several billion dollars in write-downs related to its U.S.-based nuclear plant construction company acquisition.
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South Africa's Finance Minister Pravin Gordhan is expected to announce large expenditure cuts to ward off credit downgrades by rating's agencies when he delivers his budget speech on Feb. 24.
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In EMs, the share of Negative Outlooks (18%) decreased in 1H17 as Outlooks stabilised in Turkey, Saudi Arabia, Costa Rica and South Africa (following downgrades), and in Colombia and Panama.
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Based on user bounce rates shown by the data, the Twitter app now adjusts for slow connections and downgrades images or videos, to help the user experience along, Lee said.
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Deterioration in the operating environment, which would result in a substantial inflow of new bad debt and capital erosion at the four banks, could lead to downgrades of their VRs.
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SHANGHAI, March 2 (Reuters) - A major Chinese credit rating agency issued downgrades to CEFC Shanghai International group following media reports of the detention of the chairman of CEFC China Energy.
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This change is good in that it moves Apple to a broader industry standard, but bad in that it downgrades the convenience and ease of use of the entire laptop.
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Other forecasters have made similar downgrades since the start of the year, and economists polled by Reuters last month on average forecast growth of 2.2 percent in 2016 and 2017.
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However, this ratio has fallen from a peak of 4.3:1.0 in 1Q17, with 3Q17 marking the first time the number of upgrades has exceeded that of downgrades since 0003Q14.
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The IMF added to the malaise by cutting forecasts of global growth for both this year and next, including downgrades to the outlook for the United States, China and Europe.
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A string of defaults by IL&FS in recent weeks have led to a series of rating downgrades on the company and its subsidiaries that house some of its debt.
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The downgrades sparked a fresh round of selling in JBS shares which is likely to extend in the short term, said Coinvalores brokerage head of equities trading Marco Tulli Siqueira.
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Fitbit shares then spent some time between the $30s and $40s, but by early 2016, slashed guidance, overlooked products and mass analyst downgrades drove its stock into the single digits.
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SANTANDER, Spain, June 20 (Reuters) - Some institutional depositors withdrew their money from Spain's Banco Popular after downgrades of the bank's credit rating, Economy Minister Luis de Guindos said on Tuesday.
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FITCH DOWNGRADES PUERTO RICO BOND RATINGS: Fitch Rating Services downgraded Puerto Rico bonds to default level Wednesday after the commonwealth failed to make billions in debt payments due July 1.
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"The downgrades reflect the severe deterioration in the financial performance of GE's Power segment that will last through at least 2019," Rene Lipsch, senior credit officer, said in a statement.
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On emerging corporates net downgrades outstripped upgrades by 123 in the first 2016 quarter but so far in the second quarter, this number shrank to around 40, the data showed.
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Noble plunged into crisis in 23 when Iceberg Research started questioning its accounts and triggered a share price collapse, credit downgrades and writedowns, as well as fundraising and management changes.
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Given that more than half of all investment-grade bonds now occupy the lowest rung of that classification, downgrades could render trillions of dollars' worth of such holdings effectively radioactive.
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"When you get a recession with this amount of debt, it generates the conditions for a second run impact on the economy from the downgrades, delinquencies, and defaults," he said.
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In a statement, India's central bank said the move was necessary to quickly restore depositors' confidence in the lender after its inability to address potential loan losses and resultant downgrades.
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"The announcement continues a wave of writedowns related to price downgrades," Tom Ellacott, senior vice president of corporate analysts at consulting firm Wood Mackenzie, wrote in a note on Wednesday.
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Moody's cut the ratings of Lippo Karawaci and its dollar bonds to B3 in September, while Fitch and S&P rate them at CCC+, following recent downgrades with negative outlooks.
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"We are not overly concerned that in a recession the BBB downgrades will overwhelm the high-yield market," said David Brown, co-head of global investment grade at Neuberger Berman.
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While Turkey's government complained about downgrades from big agencies during last year's currency crisis, JCR Eurasia will not rate banks or sovereign debt, a person familiar with the matter said.
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Fitch's subsequent downgrade is not surprising and further downgrades are expected if there is no movement on pension reform, said Edward Glossop, Latin America economist at Capital Economics in London.
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The stock has shed 13% since FedEx's earnings report on Tuesday, the share-price losses accelerated by a wave of downgrades from analysts at Deutsche Bank, Stifel, Keybanc and BMO.
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The agency ceased commenting on Italian entities beyond published research in 2012, after an Italian court indicted its local division over accusations of market manipulation related to Italian sovereign downgrades.
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On the other hand, Senior, which dived 11% in the previous session on the MAX news, jumped 7.3% after Panmure started with a "buy" rating, saying downgrades were priced in.
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In September and October last year, Fitch and Moody's changed their outlooks on Puma to negative, meaning downgrades could loom this year if insufficient action is taken to reduce debt.
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SEBI has cracked down on such agencies in the past few years, following a series of sudden downgrades and withdrawals of ratings and for failing to identify potential defaults in time.
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What's going on: Three of the big banks raised estimates for second quarter growth, alongside their first quarter downgrades, saying that the lost economic activity will resurface in the second quarter.
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In mid-August, Mr. Peabody warned clients that earnings power had peaked at major American banks; that report followed downgrades of Bank of America and JPMorgan Chase in June and July.
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Ratings downgrades up to now have had little impact on investors' appetite for British government debt, which is still seen as a safe asset at times of political or economic turmoil.
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However, Wall Street analysts had already been peppering Apple's stock with downgrades due to concerns that the company would suffer declines in iPhone unit sales over the next couple of years.
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The results will likely prompt further downgrades in banks' energy portfolios since the Spring 21 redeterminations on borrowing bases will likely prove more challenging than the recently completed Fall 215 process.
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The two phones even seem to share a lot in common: they're lower-end versions of flagship devices that look largely the same, just with some slight visual and technical downgrades.
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PG&E still faces "significant potential liabilities and a deteriorating financial situation, which was further impaired by the recent credit agency downgrades to below investment grade," a company spokesman tells Axios.
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A series of ratings downgrades of shadow banking companies in India in the last two months has stoked further fears of credit risk and increasing defaults by firms in the sector.
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Previous years have often seen a raft of earnings' forecast downgrades during the quarter, lowering expectations ahead of announcements and thereby diluting the credibility of any positive surprises that come through.
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The whole restaurant business got hit with two big downgrades today, even as the money is now flowing into retail as we hear about good sales from Gap Stores and Nordstrom.
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The downgrades are a bit of a bummer, but it is nice to have an earbud case that can wirelessly save my phone in a pinch if I'm low on battery.
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Due to its scarcity, the bond is expected to see strong investor demand despite downgrades of China's sovereign credit rating this year by S&P Global Ratings and Moody's Investors Service.
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Yet Morgan Stanley analysts said downgrades may not be necessary, given a range of available financing options aside from just taking on debt or issuing equity, which would dilute shareholder returns.
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Decent harvest prospects across Europe, despite some forecast downgrades in Russia, and stiff export competition illustrated by an Egyptian tender on Wednesday were adding to negative price sentiment in wheat markets.
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Even as the U.S. government decided to delay imposing the restrictions by 90 days, that's not stopping Wall Street analysts from handing out downgrades and urging clients to adjust their portfolios.
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The rating of the class A notes of Illawarra 21500-21000, Illawarra IS and Illawarra 212000-4807123 are LMI independent and therefore not sensitive to downgrades of the LMI providers' ratings.
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It said only Jews had the right of self-determination in the "historic homeland of the Jewish people" and downgrades Arabic as an official state language on a par with Hebrew.
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The more pessimistic forecasts come after a spate of downgrades by industry experts and criticism that the fast-tracking of new emissions rules in China have been poorly managed, hitting sales.
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Last week, shares of private home mortgage lender Dewan Housing Finance Corp Ltd's (DHFL) plummeted following sharp ratings downgrades after it missed payments on bonds fanning fears of a liquidity crisis.
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The downgrades came after revenue fell 21.41 percent in 703 to 270 billion euros ($22018 billion), dragged down by a 23.02 percent plunge in revenues at the bank's global markets business.
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"We are not persuaded that these reform efforts go far enough to transform South Africa's growth prospects or durably remove the risk of ratings downgrades," HSBC Securities economist David Faulkner said.
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Noble plunged into crisis in 2015 when Iceberg Research started questioning its accounts and triggered a share price collapse, credit downgrades and writedowns, as well as fund-raising and management changes.
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Australia's chief commodity forecaster in June lowered its forecast for wheat production over the 2019/20 season by more than 11%, but warned rains were desperately needed to avoid further downgrades.
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RATING SENSITIVITIES Any significant dilution in ownership by, or perceived weakening of support from, JACCS would exert downward pressure on the ratings of MPMF, including the possibility of multi-notch downgrades.
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Political instability, high unemployment and credit ratings downgrades have dented business and consumer confidence in South Africa and the rand extended its losses against the dollar, while government bonds also weakened.
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The stock has also faced several analyst downgrades this year, most recently from Susquehanna analyst Sam Poser who said Nike sneakers are forming something of a supply "glut" as demand slows.
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KEY RATING DRIVERS IDR AND SENIOR UNSECURED DEBT The downgrades reflect OZM's significantly lower management fee earnings generation capacity and the resultant impacts on cash flow leverage and interest coverage ratios.
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In addition, growth has happened in particular at the lowest end of the credit spectrum, posing a potential threat in the event of a downturn where that debt could face downgrades.
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The central bank said in a report on Tuesday that it was concerned about further downgrades to local currency debt and the impact on the stability of the domestic financial system.
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But following the cabinet reshuffle and downgrades Kganyago said pressure on the rand, and accelerated inflation as inventors sold off local assets, could force the regulator to put off cutting rates.
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HONG KONG, May 19 (IFR) - Asia credit markets were little changed on Friday with Chinese property developers softer on news of rating downgrades and concerns over policy tightening by mainland regulators.
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Since the start of 2014, Reuters analysis shows that the big three rating agencies - S&P Global, Moody's and Fitch - have racked up more than 150 emerging market downgrades between them.
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Investors fear that a failure to pass the bill could weaken the currency and stock market, while boosting interest rates and possibly fueling new credit rating downgrades for Brazil next year.
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Such bonds are vulnerable to status downgrades in tough times — Scott Minerd at Guggenheim Partners estimates that as much as $1 trillion of investment-grade debt could soon head to junk.
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In June, Daimler cut its 2018 profit forecast because of the trade war between China and the United States, sparking fears of a wave of earnings downgrades in the auto industry.
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UBS analysts warned of a coming wave of credit downgrades for U.S. stocks, which may still be on the way as a pandemic grinds portions of the economy to a halt.
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LONDON, March 6 (LPC) - CLO managers are coming under pressure as increasing number of borrowers are expected to face downgrades in light of economic headwinds and the fallout from the coronavirus.
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Since then, shares have been hit by a number of stock downgrades, price cuts and reports that foot traffic in February has been worse than the low levels seen in January.
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Municipal systems more easily default on debt and face downgrades from credit rating agencies — which make borrowing more expensive for them — and are also more susceptible to market changes and fluctuations.
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CCC-rated bonds — two downgrades away from default status — are having their worst annual performance relative to their BB-rated peers on a risk-adjusted basis according to Goldman Sachs data.
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Its analysis found that collectively the class A and B notes' expected ratings were susceptible to downgrades under Fitch's mild (10% increase), moderate (103% increase) and severe default (50% increase) scenarios.
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" "Although growth is slow as long as fiscal discipline is maintained we do not see Mexico at risk of further downgrades that would imply a risk of losing investment grade status.
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Financially, the city has faced a series of credit rating downgrades due to an unfunded pension liability that Moody's Investors Service has said is the highest among U.S. municipalities it rates.
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The companies, which also include construction supervisory and design firms, will be banned from making bids for other projects, face corporate credit downgrades and will have to pay penalties, according to CRC.
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"The downgrades primarily reflect a substantial increase in the risk of a downside scenario, where a further negative shift in investor sentiment could lead to a curtailing of wholesale funding," it said.
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Wall Street analysts, who had been peppering Apple's stock with downgrades in recent months, have been concerned the company would suffer declines in iPhone unit sales over the next couple of years.
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On Friday, Sapin stuck with a pledge to bring down the deficit to 3.3 percent target for 2016, despite a raft of downgrades by international institutions to their growth forecasts for France.
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That followed weeks of financial uncertainty after the carrier failed to win auditors' sign-off on its 271.39 financial statements, which triggered warnings of credit ratings downgrades, according to the Reuters report.
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That followed weeks of financial uncertainty after the carrier failed to win auditors' sign-off on its 2112.05 financial statements, which triggered warnings of credit ratings downgrades, according to the Reuters report.
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The Bears also received only partial seasons from wideout Alshon Jeffery and tight end Martellus Bennett, and moving Kyle Long from guard to tackle wound up resulting in downgrades at two positions.
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It is part of the process that when a company misses, there is a sea of downgrades, a lower share price, and then when the worst is built in — it is upgraded.
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Lower inflation and relatively high lending rates have helped South Africa lure yield-hungry investors to buy the currency and bonds despite the poor growth outlook and rising threat of credit downgrades.
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Fletcher slumped to a half-year loss in February, capping a year of earnings downgrades, as labour charges and materials costs on its two biggest commercial building jobs ran out of control.
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Lawmakers ended their spring session last week without a fiscal 2018 budget deal, triggering downgrades that pushed Illinois' credit ratings from S&P and Moody's Investors Service to a step above junk.
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The downgrades reflected weakness in Europe and were on the same day China released data that confirmed its slowest growth rate in 28 years, adding to fears of a global economic slowdown.
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The warning triggered several ratings downgrades from brokerages and knocked shares in peers such as Bayer, Covestro, Evonik and Wacker Chemie while pushing both Europe's chemicals and auto indexes over 1% lower.
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Turkey's central bank cut borrowing costs for the sixth straight month on Tuesday, lowering its overnight lending rate by 25 basis points despite high inflation and worries about possible credit rating downgrades.
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DUBAI, Feb 18 (Reuters) - Downgrades of the credit ratings of three Gulf oil exporters may dampen stock markets in the region on Thursday, offsetting strength in oil prices and global equity markets.
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It is the first time since 2010 that earnings forecasts globally, which usually tend to be upbeat at the start of the year and then slowly get trimmed, are not seeing downgrades.
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Noble's market value has plunged by about 23 percent to $340 million from $6 billion in February 2015, leading to rating agency downgrades, asset sales and fund raising to allay investor worries.
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Alberta has stood alone among Canadian provinces in forgoing a sales tax, even as the oil price shock pushed its finances deep into the red and spurred downgrades from credit rating agencies.
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LONDON (Reuters) - Shares in UK banks plunged on Monday as fears over the fallout from Britain's decision to leave the European Union sparked earnings downgrades and sell-offs by shell-shocked investors.
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Since the Ethiopia crash, at least seven of the 24 analysts covering the stock have reviewed their ratings, with two downgrades and one price target cut so far, according to Refinitiv data.
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In recent weeks, the task of curbing Valeant's debt has become increasingly urgent as downgrades in its credit rating and ongoing negotiations with creditors threaten to raise the company's cost of capital.
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Steep ratings downgrades were blamed by many in Italy for undermining confidence in its 2.2 trillion euro ($2.51 trillion) public debt, potentially pushing it towards the kind of disaster that engulfed Greece.
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The peso rose marginally on the day but was set to end lower for the week amid worries over risk of rating downgrades to the country and state-run oil firm Pemex.
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"Ratings downgrades look to be a foregone conclusion, as the ratings agencies will see this as ushering in a period of protracted political instability," said Marc Ostwald, strategist at ADM Investor Services.
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"The relatively minor (economic) downgrades ... suggest that the next rate increase may not be far off provided that the economy evolves as expected," St. Louis Fed President James Bullard said last week.
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CHICAGO (Reuters) - Illinois' budget crisis dragged down the credit ratings of six state public universities and Chicago's community college system on Thursday in a slew of downgrades by S&P Global Ratings.
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Banks, considered the barometer of both political and economic sentiment, have largely borne the brunt of previous credit ratings downgrades given their substantial exposure to sovereign debt and various state-owned companies.
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VR VR downgrades could result from (i) bank-specific deterioration of asset quality; (ii) erosion of capital ratios due to continued lira depreciation; or (iii) a weakening of foreign currency liquidity positions.
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The rating actions follow the downgrade of Turkey's Long-Term FC IDR to 'BB+' from 'BBB-' (see 'Fitch Downgrades Turkey's LTFC IDR to 'BB+'; Outlook Stable' dated 27 January 2016 at www.fitchratings.com).
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The downgrades of the banks' Long-Term LC IDRs to 'BBB-' from 'BBB' reflect Fitch's view that continued parental support for the banks would become more uncertain in a sovereign default scenario.
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"If such uncertainties persist and lead to downgrades in global growth, we need to give utmost attention to how that affects Japan's economy as well as corporate and household sentiment," she said.
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S&P warned in June that the nation's third largest city could be subjected to rating downgrades in the absence of a "solid funding mechanism" for its municipal and laborers' retirement systems.
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Flight Centre has been building its online presence to cut costs and chase new sales prospects after years of aggressive price discounting led to a string of profit downgrades in recent years.
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Manoj Ladwa, head of trading at broker TJM Partners, said he expected to see further company downgrades as politicians begin the long process of renegotiating Britain's relationship with the 28-member bloc.
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Analyst downgrades have also fueled bearish sentiment, with several banks cutting their 2016 oil price forecasts this week, including Standard Chartered, which said prices could drop as low as $10 a barrel.
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Earnings are forecast to grow roughly 14 percent in Europe this year and companies are seeing more analyst upgrades than downgrades for the first time since 2010, according to Thomson Reuters data.
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VR downgrades could result from (i) bank-specific deterioration of asset quality; (ii) further erosion of capital ratios due to continued lira depreciation; or (iii) a weakening of foreign currency liquidity positions.
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Risks that have changed the rates outlook on the horizon are the ANC conference, the value of the rand considering the potential of further credit downgrades, higher oil prices and electricity costs.
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Following a wave of earnings forecast downgrades in recent weeks, the companies have done a fine job of expectations management, particularly with regards to their fixed income, currencies and commodities (FICC) businesses.
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PENSIONS: A $2000 billion payment for the state's pension obligation, a 28 percent increase from last year New Jersey's unfunded pension liability led to to the 11 credit downgrades under Mr. Christie.
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Just how much the virus is ravaging the global economy is evident in a series of growth forecast downgrades and advance readings of purchasing managers indexes (PMI) across the world's biggest economies.
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"We saw more downgrades in the second half of last year and there's a likelihood it will carry over to this year," said Fabrizio Marchesi, vice president and senior analyst at Moody's.
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On Tuesday, shares of Snap fell to less than half of the stock's all-time high as analyst downgrades mostly related to the company's ability to improve its advertising platform poured in.
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There is also growing opposition in the country to President Jacob Zuma, whose decision in March to fire finance minister Pravin Gordhan triggered credit downgrades by all three major credit rating agencies.
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Bucking a regional trend of growth downgrades, Taiwan's government last month raised its 2019 forecast, citing companies moving production home from China to avoid higher tariffs as the trade war dragged on.
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Moody's Investors Service on Monday said it placed seven state universities under review for potential downgrades affecting $2.2 billion of debt because Illinois has failed to provide them with full operating funding.
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Deutsche Bank, regarded as one of the most important banks for the global financial system, has been plagued by three years of losses, ratings downgrades, failed stress tests, and money laundering scandals.
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Last week, Chipotle was hit with a slew of downgrades from stock analysts, who felt the company's latest earnings were more evidence that the chain wasn't making headway in bringing back diners.
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Connecticut, which struggles with outstanding debt and unfunded pension liabilities, was hit with general obligation rating downgrades earlier this year by all three major credit rating agencies to the single-A level.
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A broad slowdown in Africa's most advanced economy, led by mining, manufacturing and agriculture, has reignited fears of credit downgrades, spooking investors that have been lured in by the currency's high yield.
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Bucking a regional trend of growth downgrades, Taiwan's government last month raised its 2019 forecast, citing companies moving production home from China to avoid higher tariffs as the trade war dragged on.
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Britons voted to leave the EU by 52 percent to 48 percent, launching the country into its biggest constitutional shift since World War Two and resulting in downgrades to its economic outlook.
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The island nation was plunged into crisis in October after Sirisena replaced Wickremesinghe with ex-president Mahinda Rajapaksa, without the backing of parliament, leading to protests and downgrades of Sri Lanka's debt.
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While bond prices held up during the initial downgrades, they capitulated when Areva slipped to Single B, as investment-grade funds could no longer hold the notes in their Double B baskets.
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She added that, given predictions earlier this year for fiscal stimulus from the Trump administration and a more recent wave of downgrades to those expectations, she has revised her outlook in kind.
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If the agency also downgrades Pemex's debt, it could result in as much as $16 billion of forced selling by investors whose mandates stipulate they must hold bonds of investment-grade quality.
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"No amount of New Jersey bullying and false attacks by Chris Christie's cronies will hide Christie's own failures of credit downgrades and budget deficits," said Chris Schrimpf, a spokesperson for the Kasich campaign.
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The state has seen eight downgrades of its bonds by credit-rating agencies, the last of which, in early June, made them fall to just one notch above junk—with a negative outlook.
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In Australia, however, government cost-cutting, technological downgrades and reduced geographic roll-outs of the broadband network have left a missing economic link for many farmers with internet services unreliable, slow and expensive.
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The downgrades reflected weakness in Europe and came on the same day China released data that confirmed its slowest growth rate in 28 years due to faltering domestic demand and bruising U.S. tariffs.
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After being hit by broker downgrades in the previous session, on Thursday it was Deutsche Bank who was the latest to provide bearish comments on the stock, initiating coverage with a "sell" rating.
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Shares of General Electric fell nearly 1 percent on Thursday, continuing a nearly 20 percent decline over the last month spurred by analyst downgrades and fears that the company may cut its dividend.
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While downgrades in Guatemala's ratings will likely result in negative pressures on CBC, we also believe that deterioration in Ecuador's economic and political environment would be viewed as negative for the company's ratings.
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The rating actions follow the downgrade of South Africa's Long-Term Local-Currency IDR to 'BB+' from 'BBB-' (see 'Fitch Downgrades South Africa to 'BB+'; Outlook Stable' dated 7 April 2017 on www.fitchratings.com).
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Furthermore, the downgrades of Russia and Brazil last year prompted a wave of knock-on rating actions in the corporate sector, as companies can rarely "pierce the sovereign-rating ceiling", in industry-speak.
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JPMorgan's commercial banking segment made a $90 million provision for credit losses in the first quarter primarily because of downgrades in the credit worthiness of what it called "select" commercial and industrial borrowers.
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These effects will reduce the profitability of closed-fund policies, but the UK life insurance industry is strongly capitalised and not reliant on future profits to meet liabilities, so ratings downgrades are unlikely.
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With the ratio between positive and negative outlooks on ratings, which signal the likelihood of an upgrade or downgrade, now almost 1:1, Stringer expected the amount of downgrades to continue to fall.
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The Democratic-controlled state legislature's enactment of a budget and an income tax rate increase over Republican Governor Bruce Rauner's vetoes allowed Illinois, the lowest-rated U.S. state, to avoid downgrades to junk.
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A slew of profit downgrades and weak results at businesses from banks to advertisers and retailers has followed and the central bank has now opened the door to a cut in interest rates.
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This sparked a dramatic collapse in its share price and stoked ratings agency downgrades, forcing a sale of its assets and a fund raising to allay financing worries in a brutal commodities market.
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With confusion over Brexit and European parliamentary elections in three months' time, the market continues to be dogged by political uncertainty and stocks may have a harder time climbing if earnings downgrades continue.
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In the IMF's latest forecast, published on January 22009th, the handful of big economies that were spared downgrades to GDP growth—China, India, Germany, Britain, Spain and Italy—were all net oil importers.
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Meanwhile, Mozambique's currency, the metical, recovered 5 percent to trade at just under 50 after slipping as much as 11 percent against the dollar after the ratings downgrades by Moody's and S&P.
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Familiar to investors and seen as a competent economic manager, Herrera must now revive growth while kickstarting flagging investment and fending off downgrades from ratings agencies worried about indebted state-oil company Pemex.
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Boral's warning follows profit downgrades at rival supplier James Hardie Industries,, builders LendLease Group and AV Jennings Ltd and a collapse in building approvals, as wobbles hit one of the economy's stronger sectors.
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At least seven of the 24 analysts covering the stock have reviewed their ratings over the last two days, with two downgrades and one price target cut so far, according to Refinitiv data.
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The country is also struggling with a high unemployment rate, and credit downgrades by two of the top three ratings agencies, triggered by economic and political turmoil, have dented business and consumer confidence.
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Moody's downgraded Toshiba to CAA1 on Wednesday, and placed its ratings on review for further downgrades over concerns about the sustainability of the Japanese firm's near-term liquidity and its corporate governance framework.
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Criteo — The internet advertising company's stock fell more than 17 percent after downgrades from KeyBanc Capital Markets and SunTrust following reports that Google was considering changes to its Chrome and Google Marketing Platform.
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There were few palatable options: a series of credit rating downgrades of IL&FS' once top-rated paper had made it hard to refinance short-term borrowings used to fund long term projects.
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South Africa entered recession for the first time in eight years in the first quarter, data showed on June 6, putting pressure on the government just as it must cope with credit downgrades.
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The main differences between the G5 and the G5 SE are internal downgrades, likely meant to lower the price for markets like Russia and Latin America: Otherwise the two phones are nearly identical.
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Its analysis found the class A notes displayed sensitivity to increased defaults, showing downgrades of one notch under Fitch's moderate default scenario (25% increase) and three notches under Fitch's severe scenario (50% increase).
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Read More Cramer: Facebook, GE downgrades are a blessing After last Friday's nonfarm payroll report, Cramer decided to dive into the details of hiring with the CEO of Korn/Ferry International, Gary Burnison.
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The recession in Africa's most developed economy is adding to pressure on President Jacob Zuma, who is also handling fallout from credit downgrades and massive corruption scandals that have further dented investor confidence.
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ProSieben issued a profit warning on Thursday, triggering a slew of broker downgrades and sending the stock sharply lower, bringing its total losses to more than 40 percent in the year to date.
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However, it does have a few downgrades that come with the lower price: No self-emptying bin, obviously, and the wonderful rubber carpet agitator was swapped for a boring but effective carpet brush.
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"The positive impact from Wednesday's recovery in commodities has faded into Thursday, with central bank risk and rating agency downgrades casting a darker shadow," said Joel Kruger, a strategist with currencies exchange LMAX.
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"We turn more negative on Italian banks ... as sovereign spread volatility looks set to continue amid clashes with Brussels on the budget law and potential additional sovereign rating downgrades," Credit Suisse analysts said.
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S&P DOWNGRADES PUERTO RICO BONDS: Standard & Poor's Rating Services dealt a blow to cash-strapped Puerto Rico on Tuesday, downgrading infrastructure bonds secured by rum taxes to default status, according to Reuters.
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Supply disruption, conspicuous by its absence in the first half of the year, was suddenly back on the agenda as the Q3 reporting season brought a series of production downgrades from major producers.
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RATING SENSITIVITIES Multiple downgrades in CCBC's IDRs or its propensity to support CCB Brasil would lead to a negative rating action on CCB Brasil's ratings - not currently part of Fitch's base case scenario.
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" As people worry about the imminent economic winter, with little clear end in sight to the US trade war, many are trying to save money, giving rise to a phenomenon called "consumption downgrades.
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With growing fears of credit downgrades from ratings agencies after a year of continuing economic troubles in the African nation, anticipation ran high ahead of Gordhan's annual budget speech in parliament on Wednesday.
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The overnight policy rate has worked as an important anchor, allowing the orderly movement of the currency during the tariff scare, rate downgrades in early June, and now, with the resignation of Urzua.
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That is "way above long-term average of 12 percent in the region, which means expect additional downgrades in the near to mid-term," Vazza said, citing geo-political risks and commodity prices.
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The downgrades reflected weakness in Europe and were on the same day China released data that confirmed its slowest growth rate in 28 years due to faltering domestic demand and bruising U.S. tariffs.
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But while Australia suffers from wheat production downgrades, global output in 2019/20 is expected to climb to a record high of 768.1 million tonnes, according to the U.S. Department of Agriculture estimates.
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Credit quality has been deteriorating over the last few years due to slower economic growth, but the pace of downgrades has accelerated in recent months even without taking into account of virus effect.
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The downgrades of the subsidiaries' Support Ratings (SR) to '2' from '1' reflect our view of the reduced ability of the parent to support its subsidiaries signalled by the downgrade of its IDRs.
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Tesla downgrades the abilities of the Model 3 Standard version, limiting the miles it can travel on a single charge, blocking some autopilot features and preventing drivers from turning on the seat warmers.
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Among the major players, Dewan Housing Finance defaulted in June, and last month, Reliance Capital and subsidiary Reliance Commercial Finance and Altico Capital India were hit with rating downgrades after missed interest payments.
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As the 22018 earnings reporting season begins for mainland firms, analysts are issuing more downgrades than upgrades for corporate earnings, even as they hope that China's stimulus plans for the economy kick in.
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After being hit by broker downgrades in the previous session, it was Deutsche Bank who was the latest to provide bearish comments on the stock on Thursday, initiating coverage with a "sell" rating.
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Lawmakers ended their spring session on May 31 without a fiscal 2018 budget deal, triggering downgrades that pushed Illinois' credit ratings from S&P and Moody's Investors Service to a step above junk.
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Jeb Bush of Florida has criticized Mr. Christie for presiding over nine downgrades to the state's credit rating, and Senator Marco Rubio of Florida has described Mr. Christie as having a liberal policy record.
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Tumbling commodity prices, ratings downgrades and concern over the health of China's economy, along with the anticipation of the first increase in U.S. interest rates in almost a decade, hit emerging markets equity funds.
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The resultant funding squeeze and downgrades to its credit ratings forced Wanda's property arm, Dalian Wanda Commercial Properties, to pre-pay in full four loans totalling US$1.7bn by late April of this year.
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JOHANNESBURG, April 4 (Reuters) - South African banks are financially sound and well-positioned to withstand the impact of sovereign credit rating downgrades, Standard Bank, the country's second largest lender by value, said on Tuesday.
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EUROPE, BRAZIL GROWTH DOWNGRADES ArcelorMittal increased its growth forecast for 2019 global apparent steel consumption, which also reflects changes in inventory levels, to 1.0-1.5 percent from its February guidance of 0.5-1.0 percent.
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MARKET NEWS * The euro got off to an unusually quiet start in Asia on Monday, having posted its worst weekly performance in three months, as investors await more developments and ratings downgrades from Europe.
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"Indian public sector banks may find it difficult to raise capital, given their currently weak operating performance," Standard & Poor's credit analyst Deepali Seth said in a report, highlighting a risk of further rating downgrades.
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Nelson says the fact that August actually saw net upgrades while September and October saw a more or less equal number of upgrades and downgrades suggests these beats may be more credible than usual.
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"This mixture of weak growth and rising debt – the two concerns repeatedly flagged by ratings agencies – suggests that South Africa must increasingly be wary of possible further downgrades to its sovereign ratings," Mminele said.
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"While we believe that a guidance downgrade was somewhat anticipated given previous commentary this quarter from generics companies, downgrades across all the divisions highlights the headwinds the company is facing," Morgan Stanley analysts wrote.
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LONDON (Reuters) - Fitch Ratings cut Britain's credit rating on Monday and warned more downgrades could follow, joining Standard & Poor's in judging that last week's vote to leave the European Union will hurt the economy.
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JOHANNESBURG, April 4 (Reuters) - South Africa's No.4 bank by value Nedbank said on Tuesday it was in good shape and well-prepared to deal with the volatility and pressure of sovereign rating downgrades.
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But Germany's biggest bank has been plagued by three years of losses, ratings downgrades, failed stress tests, and money laundering scandals, while Commerzbank is still partially owned by the German government after a bailout.
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CHICAGO, May 11 (Reuters) - Illinois faces costly consequences if it fails to pass a budget by the end of May and is hit with more credit rating downgrades, state lawmakers were warned this week.
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The city and CPS have been hit with downgrades that pushed their credit ratings closer to or into the "junk" level and both are paying a huge penalty in the U.S. municipal bond market.
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JPMorgan estimated earlier this year that two downgrades to junk status would trigger as much as $16 billion of forced selling by investors whose mandates stipulate they must hold bonds of investment grade quality.
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A string of defaults by IL&FS has led to a series of credit rating downgrades on the company and its subsidiaries that hold some of its 910 billion rupee ($12.48 billion) debt pile.
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Prior to that Ukraine had missed the payment on its eurobond, which led to a recent sovereign downgrade (see 'Fitch Downgrades Ukraine's Foreign-Currency IDRs to 'Restricted Default'' dated 6 October 2015 at www.fitchratings.com).
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"The macroeconomic outlook for (South Africa) has deteriorated following the sovereign downgrades which will impact negatively on confidence, investment and growth," Nedbank said in a trading update for the three months to end-March.
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Renewed interest from international investors seeking yield has enabled several banks to issue Eurobonds since late 2016, for the first time since 2014, albeit at higher yields following rating downgrades in the intervening period.
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Aberdeen Asset Management fell 2.4 percent on a spate of broker downgrades after indicating on Wednesday that more clients pulled cash from its funds in the December quarter due to concerns about economic growth.
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This reflects the downgrade of Vakifbank's Viability Rating, the anchor rating from which the subordinated debt rating is notched, on 2 February 2017 (see 'Fitch Downgrades 18 Turkish Banks on Sovereign Downgrade' at www.fitchratings.com).
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LONDON (Reuters) - The global trade war kicking off between the United States and China will not trigger a spate of credit rating downgrades, Fitch's top sovereign analyst says, but the dollar's growing strength could.
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The rating actions follow Fitch's downgrade of Brazil's long-term IDRs to 'BB' from 'BB+'/Negative Outlook (for further information, see 'Fitch Downgrades Brazil to 'BB'; Outlook Negative', dated May 5, 203, at 'www.fitchratings.com').
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The theory presented by Zuckerman, MIT graduate student Minjae Kim and Carnegie Mellon's Oliver Hahl, is distinct mostly because it rejects -- or at least downgrades -- some of the most popular, prevailing wisdom on Trump.
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