S&P said on Friday it may lower Argentina's long-term foreign currency rating from its current B+ grade, which is four notches below investment grade -- and on par with Turkey, Greece and Fiji. The ratings company cited the risk of worsening creditworthiness and exchange rate volatility as potential threats to the economic adjustment measures undertaken by Mauricio Macri’s administration.
Wall Street is shocked, but it shouldn't be: Tariffs targeting China should have been a given, and now the market's tanking on trade war fears as if it just crept up on everyone, but Trump's been very clear on this.
Brazilian Finance Minister Henrique Meirelles said that a recent decision by Standard & Poor’s to cut the nation’s credit rating will not affect 2018 economic growth. Speaking to journalists in Rio de Janeiro, Meirelles added that he was expecting close to 2.5 million jobs to be created in Brazil this year and GDP growth of around 3%.
China's credit rating has been downgraded by Standard & Poor's (S&P) because of worries over the rapid buildup of debt in the country. S&P cut China's rating by one notch from AA- to A+, saying its debts had raised economic and financial risks.
Credit ratings agency S&P downgraded Chile's long-term foreign currency rating to 'A+' from 'AA-' on Thursday, the country's first downgrade since the 1990s, as weak business confidence and low prices for key export copper have eaten into fiscal revenues.
Standard & Poor's raised Argentina's credit rating one notch Tuesday, from B- to B, saying Latin America's third-largest economy was on the verge of exiting recession.The rating bump gives a boost to conservative President Mauricio Macri, who has launched sweeping - often unpopular - economic reforms aimed at reviving growth.
Argentina’s credit rating was raised to B- from selective default by S&P Global Ratings, which cited the country’s payment last Thursday of $2.7 billion of past-due interest on bonds in default since July 2014.
Standard & Poor's ratings agency says that Argentina’s new administration has presented a credible plan to deal with long-standing macroeconomic imbalances, eliminated foreign-exchange restrictions, and begun negotiations with its holdout creditors. The outlook on the local currency rating is stable, reflecting the new economic policies of the Administration, but also the potential difficulties in passing and implementing those plans.
Finance Minister Joaquim Levy has not resigned and will stay in his post, Brazil's government said on Friday, denying a media report that he planned to step down in a dispute over austerity measures. A finance ministry spokeswoman told reporters that Levy continues to work and is committed to improve the country's future.
Fitch Ratings cut Brazil's credit rating to the brink of junk, warning the country could soon lose its coveted investment grade rating as government finances deteriorate amid a prolonged recession and persistent political uncertainty.