Tag: Standard & Poor'sStandard & Poor's
Credit rating agency Standard & Poor's has reaffirmed its triple-A rating for the UK, but warned of the continuing negative outlook for the economy. S&P said it may downgrade the UK from the highest rating in the future if economic conditions worsened.
Uruguay finally managed on Thursday to achieve investment grade debt rating from the three major agencies when Fitch raised the country’s rating to BBB-minus from BB-plus, citing economic resilience as well as the political and social stability of the country, squeezed between Brazil and Argentina.
Standard & Poor's says it is to be sued by the US government over the credit ratings agency's assessment of mortgage bonds before the financial crisis. The civil lawsuit would focus on S&P high ratings in 2007 for some mortgage-backed securities that later collapsed in value, said the agency.
Earlier in the week Standard & Poor’s ratings services lowered to ‘B-’ from ‘B’ its unsolicited long-term sovereign credit rating on Argentina and on Friday the ratings agency said it is taking a similar rating actions on four Argentine banks and 16 Argentine corporations.
Argentina’s credit rating was cut one level by Standard & Poor’s, which referred to a US appeals court ruling that prevents the country from honouring its debt without also paying holders of its defaulted bonds.
Fitch Ratings has placed Argentina's Long-term foreign currency Issuer Default Rating (IDR) of 'B', Short-term IDR of 'B' and the international bonds issued under New York Law on Rating Watch Negative (RWN).
Standard & Poor's cut Spain's sovereign credit rating to BBB-minus, just above junk territory, citing a deepening economic recession that is limiting the government's policy options to arrest the slide.
The United States may lose its triple-A debt rating if next year's budget negotiations do not produce policies that over time decrease the country's debt, Moody's Investors Service said in an e-mailed statement on Tuesday.
Moody's Investor Service upgraded Uruguay's sovereign ratings from Ba1 to Baa3, following Standard & Poor's upgrade announced on April.
The US Department of Justice and securities regulators are probing potential violations by credit-rating agency Standard & Poor's in connection with its ratings of structured products, the company said this week.