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Moody's Corp

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  • Moody's: Casinos good for NY communities Friday, 19 Dec 2014 | 1:41 PM ET

    ALBANY, N.Y.— A leading rating agency says new casinos coming to upstate New York will benefit their local communities— even though the overall outlook for the gambling industry remains negative. Moody's Investors Service says Friday that this week's decision to award casino licenses to projects in Sullivan, Seneca and Schenectady counties is a "credit...

  • "The negative pressures facing most providers are widespread," said Martin Arrick, services analyst with Standard& Poor's Ratings. Moody's Investors Service anticipated another 12 to 18 months of weak performance, with large hospital systems faring better from economies of scale and the ability to drive revenue growth through expanded services.

  • Dec 12- Hearst Corp said it will raise its stake in global credit rating agency Fitch Group to 80 percent from 50 percent in a deal valued at about $2 billion as the media giant diversifies away from its newspaper foundations. Paris- based Fimalac, which is selling the stake to Hearst, will retain a 20 percent interest in Fitch, the third-biggest rating agency behind...

  • *Abe has shifted debate from fiscal tightening to stimulus. TOKYO, Dec 12- Prime Minister Shinzo Abe is signalling that retooling Japan's economy with painful structural reforms must take a back seat to reviving growth, even though he is poised to win a big referendum on his economic policies in an election on Sunday. Maintaining government spending and massive...

  • *Bahrain, Oman by far the most vulnerable. That trend is now reversing as Brent crude, at $65 a barrel against $115 in June, drops below levels which most GCC members need to balance their state budgets. The spread between Bahrain's dollar sovereign bond due March 2020 and Qatar's January 2020 sovereign climbed to 148 basis points this week from 95 bps in June.

  • *Fitch expects to downgrade Japan early next year. TOKYO, Dec 11- Fitch Ratings said it expects to downgrade Japan's credit rating sometime early next year after the government delayed a sales tax hike, which would follow a similar downgrade by Moody's as concerns grow about the country's unprecedented debt pile. Fitch wants to see what type of budget Japan...

  • Petrobras funding options run slim as scandal deepens Wednesday, 10 Dec 2014 | 9:55 AM ET

    SAO PAULO, Dec 10- Brazil's state-controlled oil firm Petrobras may have to hike fuel prices, cut spending or seek a capital injection from the government next year as a widening corruption probe threatens to temporarily leave it out of capital markets. If auditors fail to approve its annual results by April, that could trigger early repayment of as much as $11...

  • NEW YORK, Dec 9- Venezuelan sovereign bond prices plunged and the cost to insure the debt against a default surged on Tuesday in thin seasonal trading as five-year low oil prices cut the OPEC nation's cash flow, compounding already weak economic conditions. Analysts point out that Venezuela, despite all its debt, is not a heavily indebted nation.

  • *Japan on track to miss budget-balancing goal. TOKYO, Dec 10- Hiroko Shinohara frets about one issue Prime Minister Shinzo Abe has noticeably avoided on the campaign trail ahead of Sunday's election: the need to cut Japan's generous social welfare programme that supports millions of people. Abe called the election as a referendum on his economic policies,...

  • WASHINGTON, Dec 9- U.S. states' revenues are growing at a faster clip than last year, mostly due to the brightening national economic picture, and are stabilizing the governments' budgets, according to a nationwide survey released on Tuesday. "Economic growth and declines in the unemployment rate have led to an improved outlook for state revenues in fiscal 2015,...

  • *72 pct want growth policies, only 19 pct call for fiscal reform. TOKYO, Dec 9- Japanese companies want Prime Minister Shinzo Abe to do more to boost growth, including steps like income tax cuts, as most think the economy is stalled or in recession after an April sales tax hike, a Reuters poll showed. The Reuters Corporate Survey, conducted between Nov. 25 and Dec. 3, also...

  • Will low oil prices push Venezuela toward default? Sunday, 7 Dec 2014 | 5:53 PM ET

    Falling oil prices have side-swiped Venezuela's government finances, spurring default concerns, but it isn't clear if contagion effects will emerge.

  • Fiscal woes weigh on Illinois credit ratings -analysts Thursday, 4 Dec 2014 | 4:21 PM ET

    CHICAGO, Dec 4- Illinois' already low credit ratings could sink further next year if the state's new governor and the legislature fail to deal with festering fiscal problems, analysts said on Thursday. "We're certainly going into a crucial period for Illinois over the next six months," said John Sugden, a credit analyst at Standard& Poor's Ratings Services.

  • The dollar rebounded on Tuesday, supported by a retreat in oil prices that has helped to lift it against commodity-linked currencies.

  • TOKYO, Dec 2- Japan's Nikkei share average closed at a seven-year high on Tuesday, as investors speculated that the Bank of Japan was buying stocks, while they shrugged off a downgrade of Japan's sovereign debt credit rating by Moody's Investors Service. The Nikkei eked out gains of 0.4 percent to end at 17,663.22, with exporter shares such as Denso leading the...

  • JGBs mostly edge down after tepid auction, downgrade Tuesday, 2 Dec 2014 | 12:46 AM ET

    TOKYO, Dec 2- Japanese government bonds mostly slumped on Tuesday, as the first auction following Moody's cut to Japan's sovereign rating met with tepid demand from investors. "The auction today was not so good, showing people are cautious, but that's not just because of the downgrade but because we have U.S. jobs data this Friday," said Tadashi Matsukawa, head of...

  • TOKYO, Dec 2- Japan's Nikkei share average turned positive in afternoon trade on Tuesday, edging near seven-year high hit the previous day on hopes of buying by the Bank of Japan. The market fell earlier after Moody's Investors Service cut Japan's sovereign debt rating on Monday. Exporter shares were firm with Denso rising 2.4 percent and Toyota Motor Co gaining...

  • TOKYO, Dec 2- Standard& Poor's doubts Japan's government will compile a fiscal consolidation plan that is detailed enough to ease concerns about how it will reduce budget deficits and the public debt burden, a senior official from the ratings agency said. Japan's government also needs to do more to make social security more sustainable and compile pro-growth...

  • China rate cut is cold comfort for developers Monday, 1 Dec 2014 | 10:32 PM ET
    At a property trade fair in Beijing, China

    Property developers will get a negligible lift from the country's first benchmark interest rate cut in two years as sales slip and banks pull back on lending to the sector.

  • TOKYO, Dec 2- Japan's Nikkei share average slipped on Tuesday as investors took profits from the recent gains after Moody's Investors Service cut the country's sovereign debt rating, but losses were limited as the weak yen supported sentiment. Index heavyweight stocks such as SoftBank Corp, Fast Retaling Co and Fanuc Corp lost ground, falling between 0.6-1.8...