Free Republic 1st Quarter Fundraising Target: $88,000 Receipts & Pledges to-date: $16,105
Woo hoo!! And the first 18% is in!! Thank you all very much!!

Keyword: creditrating

Brevity: Headers | « Text »
  • Govt official: US expecting S&P downgrade

    08/05/2011 2:36:33 PM PDT · by Bigtigermike · 29 replies
    ABC ^ | Friday August 5, 2011 | Jake Tapper
    A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor’s to downgrade the rating of US debt from its current AAA value. Officials reasons given will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction.
  • Chinese agency cuts U.S. debt rating again

    08/02/2011 10:51:36 PM PDT · by george76 · 62 replies
    Market Watch ^ | Aug. 2, 2011 | Michael Kitchen,
    Chinese credit-rating agency Dagong Global Credit Rating Co. again downgraded U.S. sovereign debt Wednesday and warned of further downgrades, the state-run Xinhua news agency reported.... Dagong cut U.S. Treasurys to A from A+, with a negative outlook, saying growth in U.S. debt is still outpacing revenue growth. The latest move followed a Dongang downgrade of U.S. debt from AA to A+ in November, citing the launch of the Federal Reserve's second round of quantitative easing. "The agency said the approval to raise the debt ceiling indicated that there will not be any positive changes in factors that will influence the...
  • Moody's affirms AAA rating, lowers outlook

    08/02/2011 4:55:09 PM PDT · by silentknight · 41 replies
    CNN ^ | 8/2/11 | Charles Riley
    NEW YORK (CNNMoney) -- Credit rating agency Moody's said Tuesday the United States will keep its sterling AAA credit rating for the time being, but lowered its outlook on U.S. debt to "negative."
  • Moody's likely to affirm U.S. rating, negative outlook(OMG)

    07/29/2011 2:30:04 PM PDT · by mdittmar · 20 replies
    Reuters ^ | Jul 29, 2011 | Reuters
    (Reuters) - The United States' triple-A credit rating is likely to be affirmed by Moody's with a negative outlook, the ratings agency said on Friday, signaling that a downgrade would not come immediately, but possibly in the medium term.
  • Lawmaker probing if Treasury meddled in S&P rating

    07/27/2011 6:37:38 PM PDT · by markomalley · 14 replies
    Reuters ^ | 7/27/11 | Sarah N. Lynch and Rachelle Younglai
    A congressional panel is examining whether the Obama administration tried to unduly influence Standard & Poor's before the credit rater revised its outlook on the debt rating to negative. Randy Neugebauer, the Republican chairman of a House oversight panel, said on Wednesday his staff is probing whether Treasury tried to make material changes to a draft of S&P's news release announcing the negative outlook revision in April. "Our concern was if the administration was trying to influence this rating decision some -- above what would be a normal practice," Neugebauer told reporters after a hearing examining oversight of the credit...
  • Egan-Jones Downgrades US credit rating to AA

    07/27/2011 12:35:07 AM PDT · by greeneyes · 34 replies
    Dow Jones Newswire ^ | 7/26/2011 | Ackerman & Taylor
    Egan-Jones downgrades U.S. rating to AA+ from AAA -Small ratings agency unlikely to have market-moving implications, but comes amid possible downgrades from larger ratings agencies. -Egan-Jones cites rising debt-to-GDP ratio for downgrade rather than delay in raising the debt ceiling. By Andrew Ackerman and Mark Taylor Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- Egan-Jones Ratings Co. over the weekend lowered its rating on U.S. debt, the ratings firm's president, Sean Egan, announced Monday.
  • The Kabuki theatre of America's Debt Ceiling

    07/26/2011 11:23:59 PM PDT · by bruinbirdman · 5 replies
    The Telegraph ^ | 7/26/2011 | Ambrose Evans-Pritchard
    Calm down. The US will not miss a coupon payment on its $14.3tn debt next Wednesday. A genuine default would be “Lehman on Steroids” in the words of Ex-Treasury secretary Larry Summers. Precisely for that reason President Obama will not pull the trigger, EVEN IF the debt ceiling talks break down in acrimony. Obama still has a clutch of cards to play, in extremis. As Yves Smith from Naked Capitalism argues, the White House can challenge the constitutionality of the debt ceiling in Congress. The 14th Amendment of the Constitution states that the “validity of the public debt of the...
  • Great news: Downgrade could come as soon as Friday

    07/26/2011 8:12:58 AM PDT · by Mozilla · 25 replies
    Hot Air ^ | July 26, 2011 | Ed Morrisey
    Barack Obama has spent the last several weeks warning that a failure to raise the debt ceiling by the “drop-dead date” of August 2nd would cause a ruinous downgrade of Treasury bonds and an economic disaster for the US. However, the downgrade may come sooner than that, because the debt ceiling is actually a secondary condition to the ratings agencies. The problem, as they see it, is not that America can’t pay its debts next month, but that America has grown its debt to such a degree that we can’t pay them in the long run without serious restructuring of...
  • Congress Warned of Credit 'Downgrade' if War Savings Counted as Deficit Reduction

    07/25/2011 3:41:48 PM PDT · by tobyhill · 11 replies
    Fox News ^ | 7/25/2011 | By Judson Berger
    Senate Democrats' inclusion in their proposed debt package of $1 trillion in savings from the wars in Iraq and Afghanistan may not satisfy ratings agencies threatening a credit downgrade since the wars were expected to end with or without a debt deal. The budget gimmick is one that has been used by both parties. President Obama and House Speaker John Boehner had earlier considered employing it during discussions that have since broken down. Now Senate Democratic Leader Harry Reid is using the trick in his $2.7 trillion deficit-reduction plan, according to aides. Boehner has not indicated where he would draw...
  • A Downgrade of US Debt Won’t Matter as Much as You Think (Good! Don't raise the debt ceiling)

    07/19/2011 4:24:32 PM PDT · by tobyhill · 22 replies
    cnbc ^ | 7/19/2011 | John Carney
    A lot of people assume that if the ratings agencies downgrade the credit rating of the United States, it will trigger a sell-off of Treasurys. Some even suppose that a sell-off would be automatically triggered by regulatory and fund charter requirements. Fortunately, this isn’t true. It’s very likely that a downgrade of the credit rating of the U.S. would trigger a sell-off, but it’s far from clear that investors would sell U.S. government debt. More likely the investors would sell risk assets—equities, high yield corporate bonds, mortgage securities—and actually buy U.S. government debt. What's certain is regulations won’t require most...
  • Egan-Jones Officially Cuts U.S. Credit Rating

    07/19/2011 8:14:16 AM PDT · by freespirited · 3 replies
    Wall Street Pit ^ | 07/19/11 | Larry Doyle
      Cutting a credit rating is significantly different that placing it on ‘watch’ or ‘under review’.Most readers are likely fully aware that Standard and Poor’s and Moody’s have sent out serious warning signals about the potential downgrade of the United States AAA credit rating.That said, another SEC officially recognized ratings entity has gone one step further and actually lowered Uncle Sam’s standing by one notch.What firm is so bold and brazen to send this volley across Capitol Hill and down Pennsylvania Avenue? Egan-Jones.Unlike the supposed brand name rating agencies which did little to help ordinary investors going into our economic...
  • Fitch: 'AAA' rating in jeopardy

    07/18/2011 1:30:13 PM PDT · by Qbert · 9 replies
    Politico ^ | 7/18/11 | JENNIFER EPSTEIN
    Another major bond rating firm on Monday reiterated its threat to downgrade the U.S. government to a B-plus rating if the debt ceiling isn’t raised by August 2 and the government defaults on its debts. The warning from Fitch Ratings comes after Moody’s and S&P warned last week that they would lower the U.S. rating from the top mark of AAA if the country is unable to repay its debts next month. Fitch said Monday that it will place the U.S. rating in what it calls “ratings watch negative,” a status that can lead to downgrading in three-to-six months. The...
  • Ron Paul: "America's AAA Rating Not Worth Saving" Because "We Are Insolvent"

    07/14/2011 12:03:53 PM PDT · by SeekAndFind · 19 replies
    Zero Hedge ^ | 07/14/2011 | Tyler Durden
    The man who yesterday got into a heated argument with the chairsatan on whether gold is or isn't money (a Bernanke response already mocked to death so we will leave it alone), shares his take on the most recent bout of scaremongering by Moody's (with S&P doing in private today what Moody's did in public yesterday) with Bloomberg TV's Erik Schatzker. When asked if the American AAA rating is worth saving, his reply: "probably not." Paul continued: "I think if you had a market evaluation on this issue, it should have marked down a long time ago." The reason the...
  • Red China: Dagong is likely to downgrade US rating

    07/13/2011 7:50:37 PM PDT · by bruinbirdman · 17 replies
    China Daily ^ | 7/13/2011
    Debt limit aside, borrowing to pay off loans won't work, agency says The US' sovereign credit rating is likely to be downgraded regardless of whether the US Congress reaches an agreement on raising its statutory debt limit, Chinese rating agency, Dagong Global Rating Co Ltd, said on Monday. "If the debt limit is raised and the public debt continues to grow, it will further damage the US' debt-paying ability, which is a key factor in Dagong's evaluation, and we will consider lowering its ratings accordingly," said Guan Jianzhong, chairman and CEO of Dagong. "If the raised limit fails to pass...
  • Moody's adds pressure to stalled debt talks

    07/13/2011 7:48:47 PM PDT · by chessplayer · 22 replies
    WASHINGTON (Reuters) - Moody's Investors Service jolted White House debt talks on Wednesday with a warning that the United States may lose its top credit rating in the coming weeks, piling pressure on Washington to lift its debt ceiling. Underscoring the effect a potential default would have on financial markets, Federal Reserve Chairman Ben Bernanke said if Washington failed to raise the U.S. borrowing limit in time, the United States would pay creditors first and stop benefits such as payments under the Social Security retirement program.
  • China ratings house says US defaulting: report

    06/10/2011 5:57:36 AM PDT · by Zakeet · 3 replies
    AFP ^ | June 10, 2011
    A Chinese ratings house has accused the United States of defaulting on its massive debt, state media said Friday, a day after Beijing urged Washington to put its fiscal house in order. "In our opinion, the United States has already been defaulting," Guan Jianzhong, president of Dagong Global Credit Rating Co. Ltd., the only Chinese agency that gives sovereign ratings, was quoted by the Global Times saying. Washington had already defaulted on its loans by allowing the dollar to weaken against other currencies -- eroding the wealth of creditors including China, Guan said. Guan did not immediately respond to AFP...
  • Number one reason not to raise the debt limit

    06/09/2011 5:29:51 PM PDT · by Jim Robinson · 42 replies
    vanity | June 9, 2011 | Jim Robinson
    Dear Mr President, When you're head over heels in debt and your credit cards are maxed out and your credit rating is falling, you don't borrow more money. If you do, your chances of defaulting or going bankrupt are greater and your credit worthiness decreases. Don't raise the limit. Don't borrow. Cut the spending, stupid! You want to spur jobs and growth? Easy. Cut the spending, cut the government, cut the regulations, cut the red tape, cut the bureaucracy, lower the taxes and get the hell out of the way! Our people will produce if allowed. And what's this crap...
  • S&P: 'Important crossroad' for California credit rating

    05/19/2011 12:46:59 PM PDT · by SmithL · 7 replies
    SacBee: Capitol Alert ^ | 5/19/11 | Kevin Yamamura
    Standard & Poor's said Thursday that California sits at an "important crossroad" for its credit rating depending on how it deals with its structural deficit problems in the coming weeks. California has never defaulted on general obligation bond repayment, but the state's A- rating already ranks lowest in the nation in the wake of annual budget woes.
  • W.H. warns of debt 'calamity'

    05/18/2011 4:08:25 PM PDT · by Sub-Driver · 44 replies
    W.H. warns of debt 'calamity' By ABBY PHILLIP | 05/18/11 4:12 PM Updated: 05/18/11 4:56 PM In an effort to clamp down on “misinformation” about the debt ceiling and to ratchet up the pressure on Congress to act, the Obama administration said Wednesday that there is no “Plan B” for the government if Congress fails to raise the borrowing limit. Unlike the budget standoff in March, where a plan would have gone into place if the government shut down, an administration official warned that there is no “secret plan” that would kick in if the government runs out of borrowing...
  • Taxes aren't the answer

    04/25/2011 4:28:38 AM PDT · by Scanian · 51 replies
    NY Post ^ | April 25, 2011 | Editorial
    Standard & Poor's warning last week of a possible downgrading of America's credit rating sent tremors through markets worldwide -- and underscored the nation's short- and long-term deficit and debt woes. The warning came just days after the speech in which President Obama basically dismissed the House GOP's comprehensive long-term budget outline -- which addresses the need to restrain growth in discretionary spending and entitlements. Instead, the president just focused on raising income -- and possibly payroll -- taxes on the wealthiest Americans. On cue, administration supporters pushed the usual talking point: The wealthy aren't paying "their fair share" since...