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  • NEW YORK, April 23- New Jersey's capital city, Trenton, has canceled a bond refunding sale because its credit downgrade on Monday left it unable to save enough money for the deal to meet legal standards, Trenton's finance director told Reuters. Cash-strapped Trenton had planned to sell about $17.8 million of general improvement and sewer utility refunding...

  • Why iron-ore won’t snatch Australia’s AAA Thursday, 23 Apr 2015 | 12:49 AM ET

    Iron-ore's plunge has put Western Australia's credit rating under pressure, but that's not likely to imperil Australia's AAA just yet, analysts said.

  • CHICAGO, April 21- The Chicago Board of Education paid a stiff penalty for its fiscal woes on Tuesday as investors demanded fat yields for its $295.7 million general obligation bond sale. Municipal bonds carrying the same ratings as the Chicago school system, A-minus by Standard& Poor's and BBB-minus by Fitch Ratings, would normally trade only 85 to 100 basis...

  • These iron ore players face metal fatigue: Goldman Sunday, 19 Apr 2015 | 8:43 PM ET
    Bars of pig iron sit on the dockside ahead of export at the Port of Mariupol, one of Ukraine's biggest commercial sea ports, in Mariupol, Ukraine.

    Iron ore's price plunge is likely to start claiming corporate casualties among the industry's smaller players, Goldman Sachs said.

  • WASHINGTON, April 18- Japan's sovereign debt rating will come under downward pressure if its government falls behind on its goal of achieving a primary budget surplus in fiscal 2020, Tom Byrne, senior vice president of Moody's Investors Service, said on Saturday. Abe's decision prompted Moody's to cut Japan's sovereign debt rating by one notch to A1 in...

  • 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...

  • 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...