Fitch Downgrades China's Credit Rating on Rising Debt Concerns
Global ratings agency Fitch cut China's long-term local currency credit rating, citing financial risks from rapid credit expansion alongside the rise of shadow banking activity.
downgrades
Moody's Downgrades UK Rating From AAA to AA1
Credit ratings agency Moody's Investors Service downgraded Britain's government bond rating one notch from the top AAA to AA1 Friday, citing weaknesses in the economy's medium-term outlook. Moody's said "subdued" growth prospects and a "high and rising debt burden" were weighing on the British economy.
Why You Need to Be Your Own Stock Analyst
Sell-side analysts are often criticized for acting too slowly when it come to downgrading companies and lowering estimates. That means if you rely on the experts, you'll be reacting late too.
S&P's New System May Lead to Mass Downgrades for Banks
Standard & Poor's is revamping its credit rating methodology for banks and financial institutions in a way that may cause about 40% of rated banks to get a downgrade, The Wall Street Journal reported Tuesday.
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.