NEW YORK— Fitch Ratings Service downgraded Alcoa's credit rating to "junk" status on Friday, saying it thinks the company's leverage will stay high and aluminum prices and profitability will remain low. High levels of aluminum supplies have hurt Alcoa's prices, and the company has repeatedly cut its smelting capacity in response.» Read More
Several renowned investors may have made the case to be more bearish on bonds recently, but one analyst has told CNBC that now is the perfect time to look at high yielding peripheral bonds.
Standard & Poor's raised the Philippines' credit rating to investment grade on Thursday, the second debt agency to do so in less than two months.
David Riley, global managing director of sovereign ratings at Fitch Ratings, discusses Fitch Ratings' downgrade of the U.K., citing the current high debt level as reason for the move.
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.
An increase in the issuance of high-yielding bonds alongside leverage to purchase this debt has sparked renewed fears of a bubble in the credit markets, with one bank warning investors of the threats involved.
A day after the Philippines got its first investment grade rating from Fitch, the Southeast Asian country's central bank governor told CNBC the upgrade was a "seal of good housekeeping."
Fitch Ratings raised the Philippines' credit rating to investment grade on Wednesday, a first for the Southeast Asian nation, in a move expected to boost investment and lift the country's long-term growth potential.
Cesar Purisima, finance secretary of the Philippines, tells CNBC that the country's credit rating upgrade by Fitch is a "landmark achievement" and says the government will now focus more on infrastructure, fiscal strength and opening up the economy to the rest of the world.
One of Southeast Asia's fastest growing economies - the Philippines - got a ratings upgrade last year, but its finance secretary Cesar Purisima told CNBC the agencies were still "behind the curve" and the Philippines deserved a higher credit rating.
Standard & Poor's on Friday showed its support for Michigan's takeover of Detroit by upgrading the city's credit rating to "stable" from "negative."
If a creditor agreed to reduce a credit card balance or other debt, you may not think of it as income. The IRS does.
Tom Buerkle, international editor at Institutional Investor, explains why Norway tops their Country Credit Rating table, while the U.S. has its lowest point tally in over three decades.
According to Wilshire, 109 state pension plans had a shortfall of more than $830 billion in 2012. Douglas Offerman, Fitch Ratings senior director, offers insight.
David Riley, global managing director of sovereign ratings at Fitch Ratings, tells CNBC that although the sequester isn't ideal, it will neither derail the U.S. recovery nor trigger a ratings cut.
David Riley, Fitch Ratings, explains how the implementation of automatic spending cuts may threaten the nation's AAA credit status.
Add the 16 percent who say they have neither credit card debt nor savings, and 40 percent of the population says they are close to the edge of ruin.
David Gauke, from the U.K. treasury, tells CNBC the government will stick to its deficit reduction plan despite Moody's downgrade of the country's credit rating.
Kathleen Brooks, research director at Forex.com, tells CNBC that there has been absolutely no strategy in the UK for austerity and bringing down debt.
Five percent of U.S. consumers have an error on their credit report that "could lead to them paying more for products such as auto loans and insurance," the Federal Trade Commission said Monday, as it issued a long-awaited study of credit report accuracy.
"Many of the practices you're seeing in DOJ's lawsuit are still going on. They're still selling out," said Jules Kroll, CEO of Kroll Bond Ratings, a New York-based ratings agency.