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Hartford Could Default On Its Debt As Soon As Next Month, Moody’s Says

Hartford Could Default On Its Debt As Soon As Next Month, Moody’s Says Moody’s latest warning about Hartford Connecticut is its most dire yet. In a report issued Thursday, the ratings agency’s analysts said Hartford, Connecticut’s once-proud capital city, could default on its debt as soon as next month, forcing the capital of the country’s […]

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De-dollarization Not Now

De-dollarization Not Now USD-denominated debt outside the US hits record – even junk bonds. China announced today that it would sell $2 billion in government bonds denominated in US dollars. The offering will be China’s largest dollar-bond sale ever. The last time China sold dollar-bonds was in 2004. Investors around the globe are eager to […]

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S&P Just Downgraded 10 Of The Biggest US Energy Companies

S&P Just Downgraded 10 Of The Biggest US Energy Companies Just 10 days after “Moody’s Put Over Half A Trillion Dollars In Energy Debt On Downgrade Review“, moments ago S&P decided it wanted to be first out of the gate with a wholesale downgarde of the US energy companies, and announced that it was taking […]

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Peak Desperation

Peak Desperation When Standard and Poor’s downgraded Dell to junk in September 2013, it cited the slump in the PC business, the pricing pressures in the sector, and the proposed buyout of the company by founder Michael Dell and private equity firm Silver Lake Management. They’d heap new debt on the company whose sales at […]

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S&P Downgrades Japan From AA- To A+ On Doubts Abenomics Will Work – Full Text

S&P Downgrades Japan From AA- To A+ On Doubts Abenomics Will Work – Full Text Who would have thought that decades of ZIRP, an aborted attempt to hike rates over a decade ago, and the annual monetization of well over 10% of sovereign debt would lead to a toxic debt spiral, regardless of how many […]

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

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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Olduvai IV: Courage
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Olduvai II: Exodus
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