credit rating

S&P May Downgrade Portugal's Credit Rating

Portugal's credit rating may be on its way down. Standard & Poor's warned Tuesday that a downgrade may be coming based on the government's failure to create policies that will boost productivity and cut the country's deficit.

Fitch Downgrades Ireland

A day after Moody's Investors Service announced it was putting Ireland under review for a possible downgrade, Fitch Ratings lowered the country's credit grade to A from AA-. Fitch's downgrade was prompted by the government's announcement last week it is pledging more money -- as much as %u20AC50 billion -- to save Ireland's banks, in addition to uncertainty over the country's economic recovery.

Moody's Warns It May Cut Ireland's Credit Rating

Less than a week after downgrading Spain's credit rating, Moody's Investors Service warned it might cut Ireland's credit rating as well. Moody's said its decision to review Ireland's rating was prompted by the government's announcement last week that it was pledging more money -- as much as %u20AC50 billion -- to save the country's banks, as well as the weak economic recovery and rising borrowing costs.

Moodys: U.K. Credit Rating Is Safe

The U.K.'s triple-A credit rating is safe, thanks to the government's austerity measures and a flexible economy, rating agency Moody%u2019s said.

Buffett Sells More Moody's Shares

Warren Buffett continued to sell his stake in Moody's, the credit ratings agency faulted for contributing to the financial crisis because of the rating it issued to new and complex high-risk investments during the height of the housing bubble.

Standard and Poor's Lowers Ireland Rating on Bank Bailout Costs

Standard & Poor's cut its credit ratings for Ireland on Tuesday, saying that the cost of supporting the country%u2019s ailing banking sector has risen. S&P lowered its long-term rating one notch to AA-minus, the fourth highest investment grade, Reuters reported. The outlook on the rating is negative.

Millions of Americans See Credit Scores Plummet

Millions of Americans are seeing their credit scores plunge. According to FICO, 25.5% of consumers -- roughly 43.4 million people -- have a credit score below 600, making them a poor risk for lenders, and making it hard for those consumers to get credit cards, auto loans and mortgages.

Biz Brief: Fitch Downgrades BP Credit Rating

BP's credit rating was downgraded to BBB from AA -- a staggering six notches -- by Fitch Ratings on concerns of growing estimates of the size of the oil spill and U.S. demands for an escrow account.

Why Credit Ratings Have Outlived Their Usefulness

While defending the rating agencies last week before the Financial Crisis Inquiry Commission, Warren Buffett also admitted, "I don't need them." It seems that more and more, the financial markets are coming to agree with Buffett's stance on ratings.

Who's at Fault for the Financial Crisis? Everyone

Before the Financial Crisis Inquiry Commission, Warren Buffett essentially said this: We are all of us, himself included, a bunch of junkies -- and history shows that markets will always oblige us with a fix.

Banks Face Financial Doomsday

The price the largest U.S. banks pay to borrow money is going to skyrocket in the coming years, and new regulations will put a big crimp in their profits. Add in the fact that the government won't bail them out again, and you have a bleak scenario for financial firms.

Ratings Agencies Brace for Financial Reform

The details may yet change, but the massive financial reform legislation now winding around Capitol Hill promises to seriously rearrange the rating agencies' formerly cozy and profitable business. Here's a look at what's coming.

Big Ratings Agencies May Face New Competition

A decision by the U.S. Senate to restrict the ability of financial institutions to select a credit rating agency to evaluate their bonds may throw open the market to competition.

Dubai's Debt Repayment Plan Is on Shaky Ground

Dubai does everything big, and that includes its debt -- all $60 billion. Investors have reason to be concerned whether Dubai World, government's investment arm, can make its payments in a timely fashion. It's worrisome then that the proposed settlement for Dubai World to restructure $26 billion in debt is so tenuous, that one claim from a creditor could ruin the plan.

Morningstar Boosts Its Credit-Rating Business

Morningstar's $52 million purchase of Realpoint, which provides ratings on commercial mortgage-backed securities, could give Morningstar solid enough footing to compete with established credit-rating leaders Moody's, Standard & Poor's and Fitch Ratings.

Economic Doomsday for 2012? Gold Bugs Shouldn't Get Their Hopes Up

They got a lift just yesterday, when Moody's warned that the the U.S. and Britain are "substantially" closer to losing their triple-A ratings. But too bad for them, it won't come to that. They'll just have to keep watching the Hollywood version of Armageddon, 2012.