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Moody's Corp

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  • Analyst: Demographic, industry problems weigh on casinos Thursday, 16 Apr 2015 | 12:14 PM ET

    Economic growth will slow as the population of older Americans outpaces younger consumers who are "less enthused" about gambling, turning instead to electronic games or watching online entertainment, Keith Foley, an analyst at Moody's Investors Service, wrote in an investors note. In contrast, Wynn Las Vegas receives more than 60 percent of gross revenue from...

  • FRANKFURT, Germany— Europe's economic outlook is finally beginning to brighten a little. But don't expect European Central Bank head Mario Draghi to sound all that excited when he takes the stage Wednesday for his latest news conference. Draghi will sound a little cautious in order to discourage any thought that the bank might make an early exit from its 1.1...

  • FRANKFURT, Germany— Europe's economic outlook is finally beginning to brighten a little. But don't expect European Central Bank head Mario Draghi to sound all that excited when he takes the stage Wednesday for his next news conference. Draghi will sound a little cautious in order to discourage any thought that the bank might make an early exit from its 1.1...

  • SAO PAULO, April 13- Petrobras hopes to release third-quarter and full-year 2014 financial results after a board meeting on April 22, after more than five months of delays in the wake of a corruption scandal that has spread to the highest levels of government. The excess funds might have been funneled to political parties, including President Dilma Rousseff's...

  • HONG KONG, April 12- China's Evergrande Real Estate Group has cut leverage on its balance sheet over the past two years to a third by classifying some of it as equity, according to analysts' calculations based on its public filings. Evergrande, the most indebted developer among China's top 10 property firms, is seeking additional funding to expand, and a lower...

  • HARTFORD, Conn.— Tough financial questions confront Connecticut's two beleaguered tribal casinos as they propose joining forces in a major investment to fend off new competitive threats looming in Massachusetts. Mohegan Sun and Foxwoods Resort Casino— weakened by debt and a yearslong decline in gamblers— are looking to build a third scaled-back casino in...

  • CHICAGO, April 9- Standard& Poor's Ratings Services said on Thursday it will likely downgrade Chicago's A-plus credit rating if the city lacks a plan to "sustainably" fund its pensions by the end of this year. The warning was released in the wake of Rahm Emanuel's re-election on Tuesday for a second term as Chicago mayor. Chicago has projected contributions to its...

  • April 8- Ballooning pension payments, difficult negotiations with labor unions and threatened state funding cuts are some of the challenges facing Rahm Emanuel, who won a second term as Chicago's mayor on Tuesday. As a result, rating agency Moody's Investors Service has dropped Chicago's general obligation credit rating six notches since 2010 to Baa2, two...

  • DUBAI, March 26- Economies and markets in the wealthy Gulf oil exporters barely blinked when Islamist militants overran parts of neighbouring Iraq last year, and they look likely to ride out escalating conflict in Yemen with similar ease. Air strikes against Houthi forces in Yemen by Saudi Arabia on Thursday raised the prospect of a proxy war, with Shi'ite Iran...

  • NEW YORK, March 22- Government bond issuers are adopting new standards intended to thwart a strategy that's plagued Argentina for 13 years, in which buyers snap up distressed debt for pennies on the dollar and then hold out for full payment after other investors have agreed to restructure. Driving the move to change is the situation in Argentina, lawyers and...

  • NEW YORK, March 20- The bill is growing for New Jersey's attempt to revive Atlantic City, its financially distressed gambling hub. The information sheds further light on how much New Jersey taxpayers will shell out for Governor Chris Christie's decision to appoint an emergency manager for the resort city, a move that was opposed by many including Atlantic...

  • ACCRA, March 20- Ghana has taken steps needed to address revenue shortfalls and consolidate debt, both critical measures in addressing the West African country's fiscal challenges, Finance Minister Seth Terkper said on Friday. In reaction to Moody's Ghana downgrade on Thursday, Terkper said the economy has strong medium term prospects and the government...

  • ACCRA, March 20- Ghana will seek a bridge finance of between $300 million and $1 billion in the first half of this year to redeem maturing domestic debt, according to a memo to parliament signed by Finance Minister Seth Terkper and seen by Reuters on Friday. The government has started talks with a consortium including Bank of America Merrill Lynch as...

  • ACCRA, March 20- Moody's Investors Service downgraded Ghana's sovereign rating and put the country on a negative outlook to reflect an increasing debt burden, large fiscal imbalances and a sharp weakening of the cedi currency. The downgrade from by one notch to B3 from B2 comes despite an agreement with the International Monetary Fund in February for a...

  • CHICAGO, March 13- Chicago Mayor Rahm Emanuel on Friday called for phasing in higher, state-mandated payments to city pension funds to avoid a shock to the city's budget and a big property tax hike. Under an Illinois law, Chicago's contributions to its police and fire pension funds will increase by about $550 million next year. Another state law allowing...

  • CHICAGO, March 13- Chicago Mayor Rahm Emanuel's challenger in next month's runoff election offered a plan on Friday to address the city's financial woes that seeks cost-savings through intergovernmental collaboration and creates a committee to examine revenue options. But the plan by Cook County Commissioner Jesus "Chuy" Garcia, who received the most votes...

  • *Credit Suisse surges after naming new CEO. LONDON, March 10- European shares slipped further on Tuesday from a seven-year high after sharply weaker oil and metals prices pulled down commodities stocks, although Credit Suisse rallied after naming a new chief executive. "Credit Suisse has had different issues throughout the years and someone with a diverse...

  • *Credit Suisse surges after naming new CEO. LONDON, March 10- European shares slipped further away from a recent seven-year high on Tuesday as a sharp decline in crude oil and metals prices hit commodities stocks, although a rally in Credit Suisse capped market losses. "Credit Suisse has had different issues throughout the years and someone with a diverse...

  • *Credit Suisse names Prudential's Tidjane Thiam as new CEO. *Credit Suisse shares rally 7.5 pct. ZURICH/ LONDON/ HONG KONG, March 10- Credit Suisse has swooped on Prudential boss Tidjane Thiam to replace chief executive Brady Dougan- seen to have failed in reforming the Swiss bank fast enough- in order to push into wealth management of a growing multi-millionaires...

  • *Credit Suisse surges after naming new CEO. LONDON, March 10- European shares slipped further away from a recent seven-year high on Tuesday as weaker oil and metals prices hit commodities stocks, but a rally in Credit Suisse limited market losses. "Credit Suisse has had different issues throughout the years and someone with a diverse background could look at its...