Credit Downgrades
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Fitch Ratings has downgraded China- based Winsway Coking Coal Holdings Ltd's Long-Term Issuer Default Rating and senior unsecured rating to' B' from' BB-'. This strategy, which allowed it to enjoy around HKD250/ ton cash gross profit in 2011, fell apart in 2012 as coking coal prices dropped and remained volatile.
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HONG KONG, May 06 Fitch Ratings has downgraded China- based Winsway Coking Coal Holdings Ltd's Long-Term Issuer Default Rating and senior unsecured rating to' B' from' BB-'. This strategy, which allowed it to enjoy around HKD250/ ton cash gross profit in 2011, fell apart in 2012 as coking coal prices dropped and remained volatile.
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The notes are guaranteed by Hyva Holding B.V. and certain restricted subsidiaries. The withdrawal is due to the reorganisation of the Hyva Group following the acquisition of Hyva Holding by Hyva Global in 2011.. As a result, Hyva's revenue fell by more than 20% in 2012, especially in in its key markets, China and India.
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LONDON/ MOSCOW, May 02 Fitch Ratings has downgraded Agroton Public Limited's Long-term foreign and local currency Issuer Default Ratings to' CCC' from' B-' and National Long-term rating to' BB-' from' BBB'. The agency has also downgraded Agroton's senior unsecured rating to' CCC'/'RR4' in relation to its USD50m Eurobond due in July 2014.
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Fitch Ratings has downgraded Russian Helicopters JSC's local and foreign currency Long-Term Issuer Default Ratings to' BB' from' BB+' and Long-term National Rating to' AA-' from' AA. In line with Fitch's parent-subsidiary linkage methodology, the ratings incorporate a one-notch uplift for support for the company from the ultimate parent, the Russian Federation.
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LONDON/ MOSCOW/ WARSAW, April 25 Fitch Ratings has downgraded Russian Helicopters JSC's local and foreign currency Long-Term Issuer Default Ratings to' BB' from' BB+' and Long-term National Rating to' AA-' from' AA.
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Rick Sherlund, Nomura Securities head of U.S. technology research, has the play on multiple downgrades on the tech giant.
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The global ratings agency cut China's long-term local currency credit rating to A-plus from AA-minus on Tuesday with a stable outlook, citing financial risks from rapid credit expansion alongside the rise of shadow banking activity.
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BEIJING, April 9- Global ratings agency Fitch cut China's long-term local currency credit rating to A-plus from AA-minus on Tuesday with a stable outlook, citing financial risks from rapid credit expansion alongside the rise of shadow banking activity.
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Adrian Mowat, JPMorgan Securities, explains his firm bearish stance on three of China's largest sectors and recommends the banks as a short.
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Aaron Freedman, Moody's, explains why the death of Venezuelan President Hugo Chavez will not have an immediate impact on the country's sovereign rating.
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Former British Prime Minister Tony Blair speaks exclusively with CNBC Chief International Correspondent Michelle Caruso-Cabrera at the 2013 YPO Global Leadership Summit in Istanbul about the United States putting arms into Syria and the recent U.K. downgrade from Moody's.
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The "Squawk on the Street" news team reports on today's top businesses headlines, including the Dow and S&P nearing all-time highs; JC Penney's larger-than-expected fourth quarter loss; and two big banks downgrading Groupon.
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David Riley, Fitch Ratings, explains how the implementation of automatic spending cuts may threaten the nation's AAA credit status.
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Britain's finance minister, George Osborne, says markets are still confident in his austerity policies, despite the Moody's downgrade on Friday.
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MILAN, Feb 12- Ratings agency Fitch has put Finmeccanica's "BBB-" long-term rating under review for a possible downgrade following the arrest of the Italian defence group's chairman and chief executive Giuseppe Orsi in a corruption probe in India.
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HONG KONG, Jan 22- India's economy will grow "no better than" 5.7 percent in the current fiscal year but will regain traction in 2013/ 2014, the finance minister said on Tuesday, committing to fiscal prudence in the budget and brushing off threats of a downgrade. He spoke to the media afterwards and Citi reported some of his presentation.
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Lawrence Lindsey, The Lindsey Group CEO, discusses what he is telling investors about the potential downgrade of U.S. debt and deficit deals.
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Moshe Orenbuch, Credit Suisse, discusses the challenges facing BofA, and reveals his top bank picks for 2013.
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With sluggish growth, an expanding budget deficit and fears of a downgrade, the U.K finance minister will next week use his Autumn Statement to update his plans for the economy with predictions emerging that a tax crackdown on multinationals could be on the cards.