http://www.freerepublic.com/tag/creditrating/ en-us Wed, 1 May 2013 19:12:21 GMT Focus Forum 15 http://www.freerepublic.com/focus/f-news/3014590/posts Plans to launch an independent European credit agency have fallen apart after it failed to generate enough interest in the business world. After three years of efforts, its co-founder renounced the plans, in an interview with the German daily Handelsblatt on Tuesday (30 April). “There were not enough investors,” Markus Krull, a former senior partner in the German-based consultancy firm Roland Berger, told the daily in an interview. … Krull envisioned an agency that would compete with the US-based equivalent Standard & Poor’s, Moody’s and Fitch. All three US-based agencies work on a for-profit basis that Krull wanted to challenge... EU Observer http://www.freerepublic.com/focus/f-news/3014590/posts#comment Wed, 1 May 2013 19:12:21 GMT http://www.freerepublic.com/focus/f-news/2990309/posts NEW YORK (Reuters) - Moody's Investors Service on Friday cut the United Kingdom's credit rating to Aa1 from Aaa, citing weakness in the nation's medium-term growth outlook that it now expects to extend for a number of years. The outlook on the credit is stable, the firm said in a statement. Yahoo finance http://www.freerepublic.com/focus/f-news/2990309/posts#comment Fri, 22 Feb 2013 23:21:42 GMT http://www.freerepublic.com/focus/f-news/2985821/posts Now, this is awkward. One agency of the federal government is suing a company for fraud while another agency continues to endorse it. On Monday in Los Angeles, the Department of Justice sued Standard & Poor's and its parent McGraw-Hill MHP -0.25% for $5 billion. The claim is that S&P committed civil fraud when it issued high credit ratings on mortgage-related securities prior to the financial crisis of 2008. Sixteen states and the District of Columbia have piled on the suit. No doubt investors who relied on the opinions of S&P and the other big credit-rating agencies, Moody's and Fitch,... Wall Street Journal http://www.freerepublic.com/focus/f-news/2985821/posts#comment Wed, 6 Feb 2013 14:59:20 GMT http://www.freerepublic.com/focus/f-news/2978580/posts The United States faces a “material risk” of losing its AAA status if there is a repeat of the wrangling seen in 2011 over raising the country’s self-imposed debt ceiling, credit ratings firm Fitch said on Tuesday. The United States scraped up against its $16.4 trillion debt ceiling on Dec. 31 and is now employing special measures to meet its financial obligations. The Treasury Department said those steps could be exhausted by mid-February. Despite December’s deal by U.S. politicians to avoid the “fiscal cliff” of spending cuts and tax hikes, Fitch’s head of sovereign ratings, David Riley, said pressure on... Reuters http://www.freerepublic.com/focus/f-news/2978580/posts#comment Wed, 16 Jan 2013 07:58:42 GMT http://www.freerepublic.com/focus/f-news/2907183/posts The companies that determine Americans' credit scores are about to come under government oversight for the first time. The Consumer Financial Protection Bureau said Monday that it will start supervising the 30 largest firms that make up 94 percent of the industry. That includes the three big credit reporting firms: Equifax Inc., Experian and TransUnion. In remarks prepared for a speech Monday, Richard Cordray, the government agency's director, said that scorekeeping by credit bureaus plays such a large role in Americans' financial lives, it requires scrutiny. AP http://www.freerepublic.com/focus/f-news/2907183/posts#comment Mon, 16 Jul 2012 20:31:25 GMT http://www.freerepublic.com/focus/f-news/2899499/posts America is on track to go bankrupt. Just like Greece. The signs are all around us. We've lost our AAA credit rating. Trillion dollar deficits are the new normal. The Fed is buying 61% of our own debt. Barack Obama's 10 year budget will leave Americans with “more debt than has been accumulated by all previous Presidents in American history combined.” Nobody on the Left or Right seems to believe we'll ever pay off all of the money we owe. Life as we know it is very close to ending and yet Americans seem to be infected with a tragic... Townhall.com http://www.freerepublic.com/focus/f-news/2899499/posts#comment Tue, 26 Jun 2012 10:56:44 GMT http://www.freerepublic.com/focus/f-news/2898201/posts Moody's Investor Service cut the credit rating of the 6 largest US banks with international arms. In anticipation of this, and on general economic jitters, stocks tanked 251 points in the second worst day of trading this year. The downgrade of US banks reflects growing concern about the global economy and the exposore of US companies to the european debt crisis. Wall Street Journal: The Moody's Corp. unit reduced Morgan Stanley's rating to Baa1, which is three notches above the junk, or noninvestment grade, status that many bond buyers avoid. The move stands to add to the company's borrowing costs... American Thinker http://www.freerepublic.com/focus/f-news/2898201/posts#comment Fri, 22 Jun 2012 13:37:17 GMT http://www.freerepublic.com/focus/f-news/2887660/posts Sen. Tom Coburn (R-Okla.), a staunch fiscal conservative and Tea Party favorite, said he is certain that the United States will face another credit downgrade. "S&P's downgrade on us was right, matter of fact we're going to get another downgrade. I can tell you right now, you can have a great legal case for suing the rating agencies for not downgrading us again because we have not demonstrated the political will to solve the problems," said Coburn on CBS's midweek show "Face to Face," posted online Wednesday. The Oklahoma senator told CBS that he has "no doubt" that there will... The Hill http://www.freerepublic.com/focus/f-news/2887660/posts#comment Thu, 24 May 2012 21:34:20 GMT http://www.freerepublic.com/focus/f-news/2868944/posts NEW YORK, April 6 (Reuters) - Egan-Jones Ratings downgraded the credit level of the United States as Washington has struggled to reduce the federal debt burden, which is projected to surpass the size of the country's economy. The independent rating firm, which issued the downgrade late Thursday, said its senior debt rating on the United States is now AA, its third highest rating, down one notch from AA-plus. It also maintained a negative watch on the world's biggest economy as the federal debt load could rise to $16.7 trillion at the end of 2012. U.S. gross domestic product, in the... Reuters http://www.freerepublic.com/focus/f-news/2868944/posts#comment Fri, 6 Apr 2012 16:16:39 GMT http://www.freerepublic.com/focus/f-news/2861029/posts What happened? Obama and his advisers have cast the collapse of the talks as a republican failure. Boehner, unable to deliver, stepped away from the deal, simple as that. But interviews with most of the central players in those talks— some ofwhomwere granted anonymity to speak about the secret negotiations — as well as a review of meeting notes, e-mails and the negotiating proposals that changed hands, offer a more complicated picture of the collapse. Obama, nervous about how to defend the emerging agreement to his own democratic base, upped the ante in a way that made it more difficult... Washington Post http://www.freerepublic.com/focus/f-news/2861029/posts#comment Mon, 19 Mar 2012 18:17:21 GMT http://www.freerepublic.com/focus/f-news/2832976/posts France and Austria lost their triple-A credit ratings yesterday evening—an ill-starred Friday 13th January—as seven other eurozone countries were also downgraded by US-based credit rating agency Standard & PoorÂ’s (S&P). The move was described by European leaders as “political” and “inconsistent”, and China claimed the move cast doubt on the credibility of credit ratings agencies. The two triple-A economies were nudged down one notch by S&P, to AA+, but retain top AAA rating from the other two main ratings agencies, Moody's and Fitch. Two notches were struck from the ratings of Italy (to BBB+), Spain (to A), Cyprus (to BB+)... EurActiv http://www.freerepublic.com/focus/f-news/2832976/posts#comment Sat, 14 Jan 2012 17:24:33 GMT http://www.freerepublic.com/focus/f-news/2813343/posts Following the failure of the supercommittee, the U.S. government’s AAA credit rating was placed on a “negative outlook” Monday by Fitch Ratings, indicating a more than 50 percent chance the country gets slapped with another downgrade in the next two years. “By postponing the difficult decisions on tax and spending until after forthcoming congressional and presidential elections, the scale and pace of required deficit reduction will consequently be greater,” Fitch said in a statement. “Conversely, failure to reach agreement in 2013 on a credible deficit reduction plan and a worsening of the economic and fiscal outlook would likely result in... Politico http://www.freerepublic.com/focus/f-news/2813343/posts#comment Tue, 29 Nov 2011 00:30:49 GMT http://www.freerepublic.com/focus/f-chat/2792374/posts Since one can not get a downgrade of a bank during market hours for fears of springing who knows what circuit breakers, Fitch had to wait until just after the market close to release its latest market surprise which consisted of a "watch negative" announcement on the following banks Barclays, BNP Paribas, Credit Suisse, Deutsche Bank, Goldman, Morgan Stanley; others it just slashed some by multiple notches, among which: Landesbank Berlin IDR downgraded to A+ from AA-; Lloyds Banking Group IDR downgraded to A from AA-; RBS IDR downgraded to A from AA-; and most importantly UBS IDR downgraded... Zero Hedge http://www.freerepublic.com/focus/f-chat/2792374/posts#comment Thu, 13 Oct 2011 21:17:19 GMT http://www.freerepublic.com/focus/f-news/2782803/posts With near permanent brinksmanship the new normal, Congress headed into votes Friday to try to avert a government shutdown that is slated to occur on Oct. 1 if a continuing resolution bill is not passed. The Senate has voted to reject the temporary spending bill passed by the House late last night. With near permanent brinksmanship the new normal, Congress headed into votes Friday to try to avert a government shutdown that is slated to occur on Oct. 1 if a continuing resolution bill is not passed. In a surprise late night victory Thursday, House Republican leaders narrowly passed a... Christian Science Monitor http://www.freerepublic.com/focus/f-news/2782803/posts#comment Fri, 23 Sep 2011 18:41:35 GMT http://www.freerepublic.com/focus/f-news/2768176/posts Moody's cuts Japan rating, blames politics By Rie Ishiguro | Reuters TOKYO (Reuters) - Moody's Investors Service cut its rating on Japan's government debt by one notch to Aa3 on Wednesday, blaming a build-up of debt since the 2009 global recession and revolving-door political leadership that has hampered effective economic strategies. Japan is preparing to elect its sixth leader in five years to replace unpopular Prime Minister Naoto Kan, under fire for his handling of the response to a March tsunami and subsequent radiation crisis at a crippled nuclear power plant. The downgrade, while not out of the blue, served... Reuters http://www.freerepublic.com/focus/f-news/2768176/posts#comment Wed, 24 Aug 2011 05:03:06 GMT http://www.freerepublic.com/focus/f-news/2766271/posts highlights of Harrington's story below. Here are some key points: Moody's ratings often do not reflect its analysts' private conclusions. Instead, rating committees privately conclude that certain securities deserve certain ratings--but then vote with management to give the securities the higher ratings that issuer clients want. Moody's management and "compliance" officers do everything possible to make issuer clients happy--and they view analysts who do not do the same as "troublesome." Management employs a variety of tactics to transform these troublesome analysts into "pliant corporate citizens" who have Moody's best interests at heart. Moody's product managers participate in--and vote on--ratings decisions.... Business Insider http://www.freerepublic.com/focus/f-news/2766271/posts#comment Fri, 19 Aug 2011 22:31:48 GMT http://www.freerepublic.com/focus/f-news/2765273/posts The Justice Department is investigating whether the nation’s largest credit ratings agency, Standard & Poor’s, improperly rated dozens of mortgage securities in the years leading up to the financial crisis, according to two people interviewed by the government and another briefed on such interviews. The investigation began before Standard & Poor’s cut the United States’ AAA credit rating this month, but it is likely to add fuel to the political firestorm that has surrounded that action. Lawmakers and some administration officials have since questioned the agency’s secretive process, its credibility and the competence of its analysts, claiming to have found... ny times http://www.freerepublic.com/focus/f-news/2765273/posts#comment Thu, 18 Aug 2011 02:15:40 GMT http://www.freerepublic.com/focus/f-news/2764383/posts Fitch Ratings said Tuesday it will keep its rating on U.S. debt at the highest grade, AAA. It also says its outlook on the U.S. ratings is stable. The move gives the U.S. a reprieve after fellow ratings agency Standard & Poor's set off a tempest in the stock market last week by downgrading part of the U.S. debt rating from the highest grade to the second-highest grade. Fitch cited the United States' "flexible, diversified and wealthy economy," as well as its flexibility in monetary and exchange rates that allows it to adjust to marketplace shocks. The other main ratings... MSNBC http://www.freerepublic.com/focus/f-news/2764383/posts#comment Tue, 16 Aug 2011 13:52:04 GMT http://www.freerepublic.com/focus/f-news/2764206/posts Moody's Analytics on Monday lowered its outlook for growth in the U.S. economy this year and next, saying it sees "significantly weaker" prospects for the economy than just a month ago as the country struggles to avoid another recession. The report ...cites the recent political wrangling over the U.S. debt ceiling and the revived debt crisis in Europe as leading factors in the bleaker economic picture. "The odds of a renewed recession over the next 12 months, already one in three, will increase if stock prices continue to fall AP http://www.freerepublic.com/focus/f-news/2764206/posts#comment Tue, 16 Aug 2011 03:41:44 GMT http://www.freerepublic.com/focus/f-news/2761832/posts France is still a triple-A rated country—but it has a fight on its hands to convince markets. President Nicolas Sarkozy broke off his vacation Wednesday and summoned ministers to Paris to discuss how to achieve "imperative" deficit-reduction targets. But that couldn't prevent a worrying slide in French bank shares, not least because France's fate is only partly in its own hands. The market has effectively downgraded French debt already. The spread between 10-year French government bonds and German bunds has widened to 0.85 percentage point this week, three times wider than a year ago. Some of this is down to... Wall Street Journal http://www.freerepublic.com/focus/f-news/2761832/posts#comment Wed, 10 Aug 2011 21:46:34 GMT http://www.freerepublic.com/focus/f-bloggers/2761550/posts You know, I’m beginning to have some frightening thoughts. For example, on Monday, as I simultaneously watched the President say nothing useful and the Dow plummet nearly 200 points, I found myself thinking that maybe Joe Biden wouldn’t make such a bad president after all. Yes, I know, good old open-mouth-insert-foot Joe, they guy who, while introducing wheelchair-bound Sen. Chuck Graham, called to him to “[S]tand up, Chuck, let the people see you!” The same Veep who was caught on mike during the Obamacare signing ceremony telling the President, “This is a big f*ing deal!” The very same gentleman who... Grand Rants http://www.freerepublic.com/focus/f-bloggers/2761550/posts#comment Wed, 10 Aug 2011 13:02:26 GMT http://www.freerepublic.com/focus/f-news/2760683/posts In the coming days we’ll sort through the repercussions of S&P’s downgrade of our credit rating, including concerns about the impact a potential interest rate increase would have on our ability to service our suffocating $14.5 trillion debt. I’m surprised that so many people seem surprised by S&P’s decision. Weren’t people paying attention over the last year or so when we were getting warning after warning from various credit rating agencies that this was coming? I’ve been writing and speaking about it myself for quite some time. Facebook http://www.freerepublic.com/focus/f-news/2760683/posts#comment Mon, 8 Aug 2011 23:20:47 GMT http://www.freerepublic.com/focus/f-news/2760643/posts Power Play White House: Downgrade Doesn’t Matter, Unless It’s The Tea Party’s Fault By Chris Stirewalt Published August 08, 2011 | FoxNews.com * Print * Email * Share * Comments * * * * Text Size Team Obama Downplays Downgrade, But Blames Tea Party Too “Look at the history of this – the fact of the matter is that this is essentially a Tea Party downgrade. The Tea Party brought us to the brink of a default.” -- David Axelrod, top political consultant to President Obama, in an appearance on “Face the Nation.” The decision by Standard and Poor’s to... Fox News http://www.freerepublic.com/focus/f-news/2760643/posts#comment Mon, 8 Aug 2011 21:45:22 GMT http://www.freerepublic.com/focus/f-news/2760615/posts BEGIN TRANSCRIPT RUSH: Does anybody now doubt that this is on purpose? I mean, after all, Barack Obama inherits a AAA credit rating from George W. Bush, and look what he does to it. Obama is always running around complaining and whining and moaning about all that he inherited from George W. Bush. Well, he inherited a AAA credit rating, an unemployment rate of 5.7%. Does anybody doubt that this is on purpose? Well, look, my credit rating doesn't suck. There are a lot of individual Americans whose credit ratings aren't in trouble. The United States has never been in... RushLimbaugh.com http://www.freerepublic.com/focus/f-news/2760615/posts#comment Mon, 8 Aug 2011 20:43:36 GMT http://www.freerepublic.com/focus/f-news/2760551/posts Obama says U.S. is still a AAA country Photo 2:12pm EDT WASHINGTON (Reuters) - President Barack Obama on Monday blamed a downgrade in the United States' credit rating on political gridlock in Washington and said he would offer some recommendations on how to reduce federal deficits. Obama said in a White House appearance that he hopes the Standard and Poor's downgrade of U.S. debt to AA-plus from AAA will give lawmakers a new sense of urgency to tackle deficit spending and said he did not believe the reductions could be carried out with spending cuts alone. Reuters http://www.freerepublic.com/focus/f-news/2760551/posts#comment Mon, 8 Aug 2011 18:51:19 GMT