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Moody's Corp

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  • 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...

  • *Credit Suisse names Prudential's Tidjane Thiam as new CEO. *Credit Suisse shares open 8.8 pct higher after news. ZURICH/ LONDON/ HONG KONG, March 10- Credit Suisse is bringing in Tidjane Thiam, the head of British insurer Prudential, as its new chief executive to help drive the Swiss bank's push into wealth management in emerging markets.

  • ZURICH/ HONG KONG, March 10- Credit Suisse said it had hired Prudential head Tidjane Thiam as the first African to lead a global investment bank, with the job of reviving a company reeling from U.S. penalties and under increasing regulatory scrutiny. Credit Suisse Chairman Urs Rohner said long-standing boss Brady Dougan was stepping down as chief executive of...

  • ZURICH/ HONG KONG, March 10- Long-standing Credit Suisse boss Brady Dougan is set to quit as chief executive of the Swiss bank as soon as Tuesday and will be replaced by Prudential head Tidjane Thiam, people familiar with the moves told Reuters. Thiam, a former Ivory Coast government minister who has led Prudential since 2007, will become one of the few top...

  • CHICAGO, March 6- Moody's Investors Service on Friday dropped the credit rating for the Chicago Board of Education to Baa3, just one notch above the junk level, due to pension pressures affecting the school system and the city of Chicago. The two-notch downgrade, affecting $6.3 billion of the school district's general obligation bonds, came a week after Moody's...

  • HONG KONG, March 5- Hong Kong shares closed at their lowest in six weeks on Thursday, following mainland markets down, weighed by financial stocks amid concerns over China's economic slowdown. In separate reports published on Thursday, rating agency Moody's Investors Service said Chinese banks were suffering from a narrowing interest rate spread and...

  • SHANGHAI, March 5- China stocks sagged in thin trading on Thursday, with investors dumping blue chip shares such as banks and real estate firms on worries about the slowing economy. Premier Li Keqiang told the National People's Congress at the opening of the annual parliamentary meeting that China would target growth this year of around 7 percent, signalling...

  • SAO PAULO, March 2- Petróleo Brasileiro SA plans to dispose of as much as $13.7 billion in assets this year and next as part of efforts by Brazil's largest state-controlled company to reduce debt and protect cash. In a securities filing on Monday, the oil company commonly known as Petrobras raised the target for assets sales from the $5 billion to $11 billion...

  • CHICAGO, Feb 27- Chicago drew closer to a fiscal free fall on Friday with a rating downgrade from Moody's Investors Service that could trigger the immediate termination of four interest-rate swap agreements, costing the city about $58 million and raising the prospect of more broken swaps contracts. "This is an unfortunate wake-up call for anyone still asleep...

  • Obamacare case seen as big threat for hospitals Friday, 27 Feb 2015 | 5:03 PM ET
    Doctor hospital

    A major Supreme Court case that threatens to remove financial aid for most HealthCare.gov customers could affect hospitals' bottom lines.

  • Feb 27- Mortgage servicer Ocwen Financial Corp said it received a notice from a trustee terminating its services for two pools of securitized mortgage loans. Moody's Investors Service downgraded Ocwen's credit rating to' B2' from' B1' after the New York Department of Financial Services alleged that the company sent backdated foreclosures letters to...