Credit Rating | featured news

Moody’s Investors Service downgraded Spain’s credit rating Tuesday and warned that France’s rating could also be at risk, citing both nations’ vulnerability as Europe struggles to manage its persistent debt crisis.

Fitch on Friday cut Spain's credit ratings by two notches, just a few minutes after downgrading Italy, saying the intensification of the euro zone debt crisis has had a negative impact in the entire region.

Moody's Investors Service on Tuesday cut Italy's bond ratings by three notches, saying it sees a "material increase" in funding conditions for euro zone countries with high levels of debt.

The U.S. Securities and Exchange Commission staff found "apparent failures" at each of the 10 credit rating agencies it examined, including Standard & Poor's and Moody's, the agency said on Friday in its first annual report of credit raters.

The Securities and Exchange Commission faces hurdles proving wrongdoing at credit-rating agencies, the SEC's enforcement chief said in an interview shortly after it was learned that his office may sue Standard & Poor's for breaking securities laws.

President Barack Obama's deficit reduction plan would be positive for U.S. ratings but chances of its implementation are "extremely low," Moody's Investors Service said on Monday.

Moody's downgraded Bank of America's and Wells Fargo's long-term ratings and the short-term ratings of Citigroup, saying it believes the U.S. government is less likely to support the banks if needed.

Securities regulators have sent subpoenas to hedge funds and other trading firms as it probes possible insider trading before the U.S. government's long-term credit rating was cut last month, the Wall Street Journal said, citing people familiar with the matter.

Italy's sovereign debt rating cut by Standard & Poor's, the latest move in a deepening and continuing European debt crisis.

European stock futures declined Wednesday as Moody’s Investors Service downgraded Societe Generale SA and Credit Agricole SA and Chinese Premier Wen Jiabao said developed nations should not rely on China to bail them out. U.S. futures and Asian shares dropped.