Ratings Cut Near for Debt Products
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Moodyâs Investors Service may reduce the ratings of $5 billion of collateralized debt obligations after lowering the ratings of subprime mortgage bonds that make up the securities.
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Commercial and investment banks could see their credit ratings cut if the bond insurers which hedge some of their assets were themselves downgraded, Standard &amp; Poor's said on Tuesday, as billionaire investor Wilbur Ross mulled whether to invest $1 billion or more in the sector.
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Business & money: Credit crunch and housing woes blamed for gloom as businesses begin lobbying for interest rate cut
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U.S. consumers will see rates on certificates of deposit and other savings accounts head lower amid worry the economy might enter a recession, and as competition for customers ebbs in the wake of the pending sale of Countrywide Financial Corp.
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Fitch Ratings said on Thursday it cut Delta Air Lines&#39; (DAL.N: Quote, Profile, Research) debt rating after the company said it would initiate an exchange offer that would affect much of the airline&#39;s senior unsecured debt.
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Credit analysts warned on Monday that if Moody's Investors Service downgraded some specialist bond insurers it could have far-reaching impact on financial markets.
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Merck &amp; Co. (MRK.N: Quote, Profile, Research) saw its ratings slashed by a third credit ratings agency on Tuesday as Standard &amp; Poor&#39;s delivered the final blow
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Disappointing data come as credit crisis looms.
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Citigroup Inc  may need to slash its dividend 40 percent to preserve capital, and with Merrill Lynch & Co  and JPMorgan Chase & Co  may write off more than $33 billion of debt this quarter as the credit crunch deepens, a Goldman Sachs & Co analyst said.
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New orders for U.S.-made durable goods registered their sharpest fall in six years last month and consumer confidence fell in November, reports showed on Tuesday, lending support to views the Federal Reserve will trim interest rates next year.
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ZURICH/LONDON  - Moody's Investors Service cut its ratings on Citigroup Inc  debt by a notch, the latest embarrassment for the largest U.S. bank, and putting it under renewed pressure to shore up its shrinking capital base.
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The shares of U.S. commercial and  investment banks fell on Tuesday after two bond rating agencies  started to downgrade billions of dollars of securities backed  by subprime bonds, triggering concerns that bond sales and  lending businesses could slow.
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Standard &amp; Poor&#39;s Ratings Services on Tuesday (Sept. 28) lowered its long-term ratings on Regional Bell Operating Companies (RBOCs) BellSouth Corp.
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Cutting up old cards could damage your FICO score.
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Standard & Poorâs cut the rating of one troubled bond insurer on Wednesday and assigned a negative outlook to four other companies that guarantee debts linked to home loans.
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Standard & Poor's may cut 612 residential mortgage-backed securities backed by U.S. subprime loans, affecting $12 billion in debt, the rating company said on Tuesday.
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NEW YORK -- Standard &amp; Poor's Ratings Services said yesterday it cut its credit rating on medical device maker Boston Scientific Corp., saying weaker-than-expected sales have placed pressure on the sizable debt the company took on to buy Guidant Corp. this year.