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  • NEW YORK, Dec 1- Puerto Rico on Tuesday made bond payments on $355 million worth of debt maturing on Dec. 1 that was issued by its Government Development Bank by diverting revenues pledged to other debt. "The Commonwealth of Puerto Rico's Government Development Bank made full payment of debt service to its note holders today, despite its strained liquidity.

  • CHICAGO, Dec 1- Illinois will make the full $560 million December contribution to its retirement systems after the November pension payment was delayed by the state's ongoing budget impasse, a spokesman for the state comptroller said on Tuesday. A battle between Republican Governor Bruce Rauner and Democrats who control the legislature has left Illinois...

  • SAO PAULO, Nov 30- Grupo BTG Pactual SA looked to new leadership to steer it out of crisis on Monday after controlling shareholder André Esteves resigned as CEO and chairman following his jailing as part of Brazil's sweeping corruption probe. Shares and bonds in Latin America's largest independent investment bank plummeted, reflecting concerns about the...

  • SAO PAULO, Nov 30- Brazil's Grupo BTG Pactual SA looked to new leadership to steer it out of crisis on Monday after controlling shareholder André Esteves resigned as CEO and chairman following his jailing as part of the country's sweeping corruption probe. Shares and bonds in Latin America's largest independent investment bank plummeted, reflecting...

  • SAO PAULO, Nov 30- Brazilian financier André Esteves resigned as chief executive officer and chairman of Grupo BTG Pactual SA late on Sunday after he was jailed as part of a corruption probe rapidly ensnaring Latin America's largest independent investment bank. Prosecutor General Rodrigo Janot used evidence and testimony from others under investigation...

  • SAO PAULO, Nov 30- Brazilian financier André Esteves resigned as chief executive and chairman of Grupo BTG Pactual SA late on Sunday after he was jailed as part of a corruption probe rapidly ensnaring Latin America's largest independent investment bank. Prosecutors are preparing to file charges against the billionaire dealmaker, who they suspect, along...

  • SAO PAULO, Nov 30- Brazilian financier André Esteves resigned as chief executive and chairman of Grupo BTG Pactual SA late on Sunday after he was jailed as part of a corruption probe rapidly ensnaring Latin America's largest independent investment bank. It is the first time the bank has been directly implicated in the bribery scandal and the paper said...

  • SAO PAULO, Nov 27- The reliance of Brazil's Grupo BTG Pactual SA on market funding may pose an immediate challenge for new boss Persio Arida, who sought to calm clients on Friday after its shares fell for a third straight day. The São Paulo-based investment bank tapped Arida, a former president of Brazil's central bank, as acting chief executive officer following...

  • SAO PAULO, Nov 25- Brazil's Grupo BTG Pactual SA scrambled to contain fallout from the arrest of its billionaire boss on Wednesday, tapping cash reserves to cover client redemptions and announcing a stock buyback to prop up plunging shares. The moves highlighted investors' concerns whether Latin America's largest independent investment bank can thrive...

  • BTG scrambles to contain Esteves arrest fallout Wednesday, 25 Nov 2015 | 4:16 PM ET

    SAO PAULO, Nov 25- Brazil's Grupo BTG Pactual SA scrambled to contain the fallout from the arrest of its billionaire boss on Wednesday, tapping cash reserves to cover client redemptions and announcing a stock buyback to prop up its plunging share price. Ratings agency Moody's Investors Service warned the credit rating of Latin America's largest homegrown...

  • Support for lower Indian GST rate gaining traction Wednesday, 25 Nov 2015 | 5:02 AM ET

    The Congress party, even though it proposed the GST when it was in government, has led an opposition blockade against the measure and is in high dudgeon after its leaders faced a series of public attacks by the BJP. "The PM has not called a single leader of the Congress party for discussion," the party's deputy leader, Rahul Gandhi, said in a speech to students in...

  • CHICAGO, Nov 24- Illinois' credit rating could move even closer to "junk" if its already large pension liability and budget deficit grow, Moody's Investors Service said on Tuesday. Moody's said growth in Illinois' chronic unpaid bill pile, a barometer of the state's structural budget deficit, "would elevate liquidity risks and add further credit pressure."

  • WASHINGTON, Nov 23- Cyber attacks on the private sector are an increasingly important risk in corporate credit analysis, U.S. ratings agency Moody's Investors Service said on Monday. The threat of computer hacking varies from sector to sector and remains hard to measure because intrusions often go undetected or are not publicly disclosed, Moody's said.

  • YOUR MONEY-Gear up for holiday TV and Star Wars deals Wednesday, 18 Nov 2015 | 9:00 AM ET

    Charlie O'Shea, a vice president at Moody's Investors Service, follows Wal-Mart Stores Inc, Target Corp, Kohls Corp, Toys R Us Inc and Best Buy Co Inc- some of the biggest forces during the holiday shopping season. Also, some of the specialty retailers are pulling back on Thanksgiving Weekend store hours, which makes sense as our view is, this is more of a...

  • A separate policy for so-called business interruption events could pay as much as $510 million if the joint venture between BHP Billiton Ltd and Vale SA proves that it lost that much in profits, the source added. Experts could take at least 90 days to investigate the causes of the disaster in southeast Brazil, a second source said, adding that the owners face a...

  • CHICAGO, Nov 10- Chicago's contributions to its four retirement systems will be too skimpy to curb unfunded pension liability growth in the next 10 years regardless of how state lawmakers address the problem and how the court system rules, Moody's Investors Service said on Tuesday. Moody's, which dropped Chicago to the "junk" level of Ba1 with a negative outlook...

  • Nov 6- Moody's Investors Service raised the outlook on Hungary's Ba1 rating to "positive" from "stable", bringing the country within a whisker of regaining the investment-grade status it lost four years ago. Moody's, which affirmed Hungary's Ba1 rating, said on Friday that it believed the downward trend in the government debt stock was likely to be sustained in the...

  • Nov 6- Moody's Investors Service has raised its outlook on Hungary's Ba1 sovereign rating to "positive" from "stable", bringing the country within a whisker of regaining the investment-grade status it lost years ago. The credit rating agency affirmed Hungary's Ba1 rating on Friday. Fitch Ratings and Standard& Poor's also continue to keep Hungary in...

  • *Illinois' last bond sale was in May 2014. ALGONQUIN, Ill., Nov 3- District 300, Illinois' sixth-largest public school system, has been waiting a decade for state dollars to complete a construction and improvement project that began with voter approval of $185 million of bonds in 2006.. District 300 had been counting on $30 million to $40 million in state construction...

  • Saudi Arabia slams S&P decision to downgrade its debt Friday, 30 Oct 2015 | 10:58 PM ET

    S&P cuts Saudi ratings by one notch. DUBAI, Oct 31- Saudi Arabia criticised a decision by a leading credit rating agency to downgrade its debt, but it may struggle to reassure markets worried by the damage which low oil prices are doing to the kingdom's finances. Standard& Poor's cut its ratings for Saudi Arabia's long-term foreign and local currency sovereign...