Tag: Standard & Poor's

• Saturday, August 31st 2019 - 17:54 UTC

  The “Amazon fires of uncertainty” in Argentina: can they get worse?

  

  Argentina’s battered bonds were driven still lower on Friday after a credit rating cut from Standard & Poor’s triggered automatic selling mechanisms at big pension funds. Risk spreads blew out to levels not seen since 2005 while the local peso currency extended its year-to-date slide to 36%, forcing renewed central bank market intervention and intensifying worries about Argentina’s ability to honor its dollar-denominated debt.

• Friday, August 30th 2019 - 09:58 UTC

  S&P declares that Argentina's extension of maturities implies a “selective default”

  

  Credit risk agency Standard & Poors announced on Thursday that it was slashing Argentina’s long-term credit rating another three notches into the deepest area of junk debt, saying the government’s plan to “unilaterally” extend maturities had triggered a brief default.

• Saturday, August 3rd 2019 - 07:19 UTC

  S&P retained its 'B' rating for Argentine debt

  

  Standard & Poor's (S&P) confirmed it would maintain its 'B' rating for Argentine debt, highlighting that the president Mauricio Macri administration was continuing to meet the goals laid out by the International Monetary Fund (IMF) as part of the huge credit line agreed last year.

• Tuesday, July 16th 2019 - 10:51 UTC

  US qualifies Uruguay as a safe country to invest but warns about union power

  

  A report issued by the United States Department of State on the investment climate in Uruguay on Monday analyzed the legal, political and economic aspects of the country. On the one hand, it stands the legal security, the free movement of capital, the preferential regimes and the investment grade. On the other, it warns about aspects such as labor relations, the power of unions, the advantage of public companies and the increase of problems in education and security.

• Wednesday, March 6th 2019 - 08:44 UTC

  S&P slashes credit rating of several leading Mexican companies including national oil Pemex

  

  Rating agency Standard & Poor’s (S&P) slashed the credit rating for Mexico’s national oil company Petroleos Mexicanos, or Pemex, piling more pressure on the government to tighten up the debt-laden oil firm’s finances.

• Tuesday, November 13th 2018 - 11:18 UTC

  S&P downgrades Argentina's long term sovereign debt from “B+” to “B”

  

  Standard & Poor's on Monday downgraded Argentina's sovereign long term credit rating from “B+” to “B” and reviewed the country's debt prospects to “stable”, following on the “negative” review from last August.

• Saturday, October 27th 2018 - 09:01 UTC

  S&P lowers Italy's outlook to negative; criticizes Rome's economic and fiscal policies

  

  Standard & Poor’s on Friday left Italy’s sovereign debt rating unchanged but lowered its outlook to negative from stable, saying that the new government’s policy plans were weighing on the country’s growth and debt prospects.

• Saturday, September 1st 2018 - 09:27 UTC

  S&P places Argentina credit ratings under review

  

  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.

• Tuesday, March 27th 2018 - 09:42 UTC

  The World's Biggest Investors Have Lost $436 Billion In 2018

  

  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.

• Tuesday, January 16th 2018 - 09:44 UTC

  Meirelles brushes aside impact of S&P's lower rating: 'growth will continue'

  

  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%.