Tag: Standard & Poor's

• Friday, August 1st 2014 - 08:24 UTC

  Argentine shares and bonds plunge, while US dollar climbs as operators seek refuge

  

  Argentine shares and bonds plunged on Thursday as investors reacted to the failed negotiations between Argentina and the holdout hedge funds in New York. At the Buenos Aires City stock market the Merval index closed down by 8.4% to 8,187.99 points, far from yesterday’s record 6.9% climb.

• Thursday, July 31st 2014 - 06:55 UTC

  Argentine private banks discussing bond purchase from holdouts

  

  The meeting between Argentine private bank representatives and the 'holdouts' over the debt held by the hedge funds has been adjourned and will be resumed on Thursday, according to Buenos Aires financial daily Ambito.com.

• Friday, July 11th 2014 - 06:36 UTC

  Brazil's next government will have to implement a tough fiscal tightening, says Fitch

  

  Fitch Ratings on Thursday reaffirmed Brazil's “BBB” credit rating with a stable outlook, but added it expects the next government to control spending in order to avoid additional fiscal deterioration that could trigger a downgrade.

• Wednesday, June 18th 2014 - 08:09 UTC

  S&P and Argentina in six months: “default or distressed debt exchange”

  

  Standard & Poor's cut its rating of Argentina's long-term foreign currency debt rating to CCC- from CCC+ with a “negative” outlook. A CCC rating is defined as “currently vulnerable and dependent on favorable business, financial and economic conditions to meet financial commitments,” according to S&P.

• Wednesday, June 4th 2014 - 09:03 UTC

  Timid S&P ignores Moody's and leaves Uruguay' risk rating unchanged

  

  Standard & Poor's (S&P) decided on Tuesday to maintain Uruguay's sovereign debt risk rating unchanged at the lowest investment grade BBB-, because although it has solid growth prospects, predictable policies and a favorable debt profile, the country still has limited fiscal and monetary flexibility and lives in a neighborhood experimenting 'economic stress'.

• Wednesday, March 26th 2014 - 07:44 UTC

  Brazil hits back at S&P; says economy is well positioned to new challenges in the global scenario

  

  Brazil's central bank on Tuesday said it will continue to respond to challenges in the international scenario after Standard & Poor's decision to downgrade the country's credit ratings. This includes a rigorous set of macroeconomic policies, a flexible exchange rate regime and the use of liquidity buffers “to smooth out moves in asset prices” the bank said in a statement.

• Tuesday, March 25th 2014 - 08:51 UTC

  S&P downgrades Brazil’s sovereign debt rating to BBB minus

  

  Standard & Poor's cut Brazil's sovereign debt rating closer to speculative territory in a blow to President Dilma Rousseff administration. Brazil had its long-term debt rating downgraded to BBB minus, the agency's lowest investment-grade rating. S&P changed its outlook to stable from negative, meaning further downgrades are unlikely for now, which will come as a relief for both politicians in Brasilia and financial markets.The move was widely expected but the timing surprised some investors.

• Thursday, December 19th 2013 - 06:01 UTC

  Fed announces gradual conditioned tapering of stimuli from next January

  

  The U.S. Federal Reserve will start scaling back its monthly bond-buying program as early as next month, but the reduction will be gradual. The Federal Reserve has been buying 85 billion dollars a month in government bonds in an effort to keep interest rates low and boost economic growth.

• Saturday, November 9th 2013 - 18:34 UTC

  S&P downgrades France's credit rating but market reactions were contained

  

  Another setback for the French government as the rating agency Standard & Poor’s cut its appraisal of the country’s credit worthiness. It reduced its rating one notch to AA from AA+.

• Thursday, September 12th 2013 - 01:42 UTC

  S&P downgrades Argentina’s credit rating to the level Cyprus and Egypt

  

  Argentina’s long-term sovereign foreign currency credit rating was cut one level by Standard & Poor’s, which cited a US Appeals Court ruling that prevents the country from honouring its debt without also paying holders of defaulted bonds in full.