June 30- Standard& Poor's Ratings Services lowered its credit rating on Puerto Rico to' CCC-minus' from' CCC-plus', hours after Governor Alejandro Garcia Padilla said the U.S. territory needed a period of bankruptcy to restructure its debt. Former IMF staffers-- engaged by Government Development Bank, Puerto Rico's financing arm-- issued a damning report on Sunday...» Read More
TOKYO, April 27- Fitch Ratings downgraded Japan's credit rating by one notch after the government failed to take steps in this fiscal year's budget to offset a delay in a sales tax increase, the agency said on Monday. Fitch cut its rating on Japan by one notch to A, which is five notches below the top AAA rating. Last year Moody's Investors Service downgraded Japan to...
Some companies caught up in the Petrobras corruption scandal are pressing Brazil's government to strike a "grand bargain" settlement, sources told Reuters.
Benjamin Swinburne, Morgan Stanley, outlines reasons for his cautious media outlook.
Last week, Fitch Ratings downgraded Russia's credit rating to 'BBB-'. Paul Rawkins, head of emerging Europe sovereign ratings at Fitch, explains that recent events such as the rapid decline in the oil price and the volatility of the Russian ruble contributed to the downgrade.
*Fitch and S&P have Russia one notch above junk. *Russia seeks to avert downgrade, says dangers exaggerated. The Fitch agency cut its rating on Russia to' BBB minus' from' BBB' on Friday, citing a significant deterioration in the country's economic outlook due to the slump in oil prices and falling value of the rouble.
Jan 9- Fitch Ratings cut its rating on Russia to' BBB minus' from' BBB', citing significant deterioration in the country's economic outlook due to the slump in oil prices and falling value of the rouble. Fitch said the issue ratings on Russia's senior unsecured foreign and local currency bonds have also been downgraded to' BBB minus' from' BBB'. Oil prices have fallen...
Andrew Colquhoun, Head of Asia-Pacific Sovereigns at Fitch Ratings, says the justification to delay the sales tax hike was an "eyebrow raiser" and discusses the possibility of downgrading Japan's credit rating next year.
S&P cut Italy's credit rating to one notch above junk, saying weak growth and poor competitiveness undermined the sustainability of its huge debt pile.
Despite uncertainty over upcoming elections and a slow economic recovery, Jonathan Pain, Author of "The Pain Report" and Director of JP Consulting, says the stock market will go higher.
Thomas Byrne, SVP, Regional Credit Officer, Sovereign Risk Unit at Moody's, identifies the delay in the consumption tax and doubts over Abe's growth revival strategy as reasons for the agency's downgrade.
Chris Konstantinos, Director of International Portfolio Management at Riverfront Investment Group, explains why he's still bullish on Japanese equities despite Moody's downgrade.
Usually a sovereign default is negative for a country's markets, but Argentina's markets have rallied to 20-year highs despite the overhanging threat.
S&P could downgrade New Jersey again because of budgetary imbalance and underfunded pensions, putting it among the three worst-rated states.
CNBC's Rick Santelli and Jack Dorer, Moody's Investors Service analyst, discuss the move by Moody's to downgrade Chicago's credit rating to just above junk bond status citing the city's unfunded pension liabilities.
Atul Goyal, Senior Analyst at Jefferies, says Moody's downgrade of Sony won't affect the company's ability to raise debt, but it could impact its profitable insurance business.
Puerto Rico Treasury Secretary Melba Acosta, and PR Government Development Bank Chairman David Chafey, discuss the pressure Puerto Rico is under from ratings agencies to borrow from markets over concerns of short-term liquidity needs. Puerto Rico has $70 billion in debt plus unfunded liabilities of $30 billion.
Puerto Rico is under pressure from ratings agencies to prove they can borrow money or face a downgrade, reports CNBC's Michelle Caruso-Cabrera.
The Xinhua news agency in China says U.S. politicians have done "nothing substantial but postponed once again the final bankruptcy of global confidence in the U.S. financial system." CNBC's Michelle Caruso-Cabrera reports a credit ratings agency in China downgraded the U.S. to A- from A.
Bill Gross, Pimco founder and co-CIO, discusses debt, default and dysfunction in D.C. He says ratings services make news but seldom break new ground.
CNBC's Michelle Caruso-Cabrera compares what happened to the stock markets after the last downgrade of U.S. debt and what happened to Italian stocks.