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The Downgrade Massacre Has Started

March 30, 2020

The Downgrade Massacre Has Started Just astounding. So many downgrades in just of a couple of days. And zero upgrades. Here’s who got hit. I get “Moody’s Daily Alert” in my inbox, which lists Moody’s ratings actions for the day. The Alerts are usually a mix of a few upgrades and a few downgrades. Many […]

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Connecticut Capital Hartford Downgraded To Deep Junk, S&P Says “Default Virtual Certainty”

September 26, 2017

Connecticut Capital Hartford Downgraded To Deep Junk, S&P Says “Default Virtual Certainty” Two months after S&P downgraded the state capital of Connecticut, Hartford, to junk, when it cuts its bond rating from BB+ to BB- citing growing liquidity pressures and weaker market access, the city which has been rumored is preparing to file for bankruptcy […]

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Pound Flash Crashes After Moody’s Downgrades UK To Aa2

September 22, 2017

Pound Flash Crashes After Moody’s Downgrades UK To Aa2  In an otherwise boring day, when Theresa May failed to cause any major ripples with her much anticipated Brexit speech, moments ago it was Moody’s turn to stop out countless cable longs, when shortly after the US close, it downgraded the UK from Aa1 to Aa2, […]

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S&P Downgrades China To A+ From AA- Due To Soaring Debt Growth

September 21, 2017

S&P Downgrades China To A+ From AA- Due To Soaring Debt Growth Four months after Moody’s downgraded China to A1 from Aa3, unwittingly launching a startling surge in the Yuan as Beijing set forth to “prove” just how stable China truly is, moments ago S&P followed suit when the rating agency also downgraded China from […]

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Fitch Threatens US with Downgrade

August 24, 2017

Fitch Threatens US with Downgrade Did it forget how the US government hounded Standard & Poor’s? Bitter irony! Just yesterday, I had a conversation with Bill Tilles, and we agreed on all three points. This morning, we’re already proven wrong on one of them: A government shutdown as Congress fails to pass spending levels for […]

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Angry China Slams Moodys For Using “Inappropriate Methodology”

May 25, 2017

Angry China Slams Moodys For Using “Inappropriate Methodology” The market may have long since moved on from Moody’s downgrade of China to A1 from Aa3 (by now even long-only funds have learned that in a world with $18 trillion in excess liquidity, the opinion of Moodys is even more irrelevant), but for Beijing the vendetta […]

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S&P Downgrades Saudi Arabia For Second Time In 4 Months, Also Cuts Oman, Bahrain

February 17, 2016

S&P Downgrades Saudi Arabia For Second Time In 4 Months, Also Cuts Oman, Bahrain For the second time in four months, S&P has downgraded Saudi Arabia. In late October, the ratings agency flagged sharply lower oil prices and the attendant fiscal deficit (16% in 2015) on the way to cutting the kingdom to A+ outlook […]

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Moody’s Just Put Over Half A Trillion Dollars In Energy Debt On Downgrade Review

January 22, 2016

Moody’s Just Put Over Half A Trillion Dollars In Energy Debt On Downgrade Review One week ago, in the aftermath of the dramatic downgrade to junk of Asian commodity giant Noble Group, we showed readers the list of potential “fallen angel” companies, those “investment “grade companies (such as Freeport McMoRan whose CDS trades at near-default levels) who […]

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S.&P. Nears Settlement With Justice Over Inflated Ratings

January 13, 2015

S.&P. Nears Settlement With Justice Over Inflated Ratings On television and in the courtroom, Standard & Poor’s has waged war against a Justice Department lawsuit. But behind the scenes, the giant bond-ratings agency wants nothing more than to buy peace. After S.&P. mounted a two-year campaign to defeat civil fraud charges — portraying them as retaliation for cutting […]

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The Three Reasons Why Moody’s Just Downgraded Japan From Aa3 To A1 | Zero Hedge

December 1, 2014

The Three Reasons Why Moody’s Just Downgraded Japan From Aa3 To A1 | Zero Hedge. Less than two weeks ago we were delighted to remind S&P that about a year ago, the laughable rating agency which is now terrified of being sued any time it tells the truth, promised it would downgrade Japan the moment things […]

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