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Moody's Corp

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  • S&P downgrades Chicago GO bonds to A- from A+ Thursday, 14 May 2015 | 6:50 PM ET

    NEW YORK, May 14- S&P credit rating agency on Thursday downgraded Chicago's general obligation bonds to A- from A+, which the agency said was three notches above "junk" level, citing the financial challenges the city is facing. The agency said it expects the city will address its liquidity pressures, "whether through full re-negotiations or through utilizing its own...

  • CHICAGO, May 13- A day after pushing Chicago's credit rating to junk, Moody's Investors Service dropped ratings on Wednesday for the city's school and park districts to that level as well. Moody's dropped the rating on $6.2 billion of Chicago Board of Education general obligation bonds three notches to Ba3 and the rating on $616 million of Chicago Park District...

  • NEW YORK, May 13- A downgrade of Chicago's debt rating to junk created confusion in the $3.7 trillion U.S. municipal bond market on Wednesday, with prices sliding in a volatile session and predictions that they still have further to fall. While Moody's Investors Service downgraded the city's $8.1 billion of general obligation debt to junk at Ba1, other big Wall...

  • CHICAGO, May 13- Chicago began an uphill battle in court on Wednesday to keep its cost-saving pension reform law from meeting the same fate as an Illinois law that was declared unconstitutional last week by the state supreme court. Michael Freeborn, an attorney who filed one of the two lawsuits challenging the law, said a ruling by Novak could come soon after the...

  • CHICAGO, May 12- Moody's Investors Service on Tuesday pushed Chicago's credit rating into the "junk" category, citing limited options for easing the city's growing unfunded pension liability after a state court last week invalidated a state pension reform law. The downgrade of Chicago's $8.1 billion of general obligation bonds moves the city's rating down...

  • SHANGHAI, May 11- China's banks are facing their toughest year since the onset of the global financial crisis in 2009, with interest rate cuts and liberalization of the deposit rate system eating into their profit margins. The People's Bank of China cut interest rates for the third time in six months on Sunday in a bid to lower companies' borrowing costs, while...

  • May 5- A recent decision by the Oregon Supreme Court overturning cuts to public pensions is a "credit negative" that will hurt the budgets of both the state and its cities, Moody's Investors Service said in a report on Tuesday. Last month, the Oregon Supreme Court ruled that reductions in cost-of-living-adjustments for retirees and current employees passed in...

  • HONG KONG, May 3- Fosun International Ltd, an investment company controlled by Chinese billionaire Guo Guangchang, said it had offered to buy the 80 percent it does not already own in U.S. insurer Ironshore Inc for $1.8 billion. The move follows Fosun's decision to buy a 20 percent stake in the casualty and property insurer for $464 million in August 2014 in a bid to...

  • Traders work the floor of the New York Stock Exchange.

    U.S. stocks closed higher, recovering from the prior day's selloff, as investors eyed higher Treasury yields and looked for signs of economic growth.

  • CHICAGO, May 1- Chicago's $20 billion unfunded public pension liability is on track to grow significantly regardless of the outcomes of litigation over the constitutionality of benefit cuts or legislative action, Moody's Investors Service said on Friday. But the credit rating agency warned there will be a growing risk to Chicago's solvency if its four...

  • Winning and losing picks from last Sohn conference Friday, 1 May 2015 | 12:17 PM ET
    The 2015 Sohn Investment Conference takes place on Monday May 5th in New York.

    With the S&P 500 advancing 11 percent since last year's Sohn Investment Conference, here's a rundown on the winners and losers for the year.

  • US dollar and data in focus on Wall Street Friday, 1 May 2015 | 8:45 AM ET
    Traders work on the floor of the New York Stock Exchange.

    US stock index futures indicated a higher open on Friday ahead of a data-packed day, after stocks closed down more than 1 percent.

  • Early movers: NWL, MCO, VFC, CVS, LNKD & more Friday, 1 May 2015 | 7:53 AM ET

    Some of the names on the move ahead of the open.

  • May 1- Credit rating agency Moody's Corp reported a better-than-expected quarterly profit, driven by strong growth in its bond ratings and financial services businesses. High-grade U.S. corporate debt offerings jumped 8 percent to $341.9 billion in the first quarter from a year earlier, marking the strongest three-month period for the asset class since...

  • Moody's profit rises 5.5 pct Friday, 1 May 2015 | 7:05 AM ET

    Net income attributable to Moody's rose to $230.1 million, or $1.11 per share, in the first quarter ended March 31, from $218 million, or $1 per share, a year earlier.

  • Stocks entering May with low expectations Friday, 1 May 2015 | 6:19 AM ET
    A trader works on the floor of the New York Stock Exchange.

    Stocks typically score gains about half the time in the month of May. That compares to positive returns 75 percent of the time in April.

  • Stocks entering May with low expectations Thursday, 30 Apr 2015 | 7:12 PM ET
    A trader works on the floor of the New York Stock Exchange.

    Stocks typically score gains about half the time in the month of May. That compares to positive returns 75 percent of the time in April.

  • Greece gets junkier: Moody's cuts rating Wednesday, 29 Apr 2015 | 8:27 PM ET
    People are seen in front of a Eurobank branch in Athens, Greece, March 19, 2015.

    Moody's cut Greece's credit rating deeper into junk territory amid uncertainty over whether it will reach a deal with its international lenders in time.

  • April 29- Moody's Investors Service said it downgraded Greece's government bond rating to' Caa2' from' Caa1', citing uncertainty whether the troubled country would be able to reach an agreement with official creditors in time to meet its upcoming debt repayments.

  • UPDATE 1-Chicago mayor unveils initial fiscal reforms Wednesday, 29 Apr 2015 | 4:13 PM ET

    CHICAGO, April 29- Chicago Mayor Rahm Emanuel revealed on Wednesday the first steps he will take over the next four years to help fix the city's financial problems by changing some of the city's long-used and sometimes controversial debt maneuvers. The mayor, who won a second term in office earlier this month, said Chicago will end bond restructurings that push...