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S&P cuts Egypt's credit ratings

Ratings agency Standard & Poor's has pushed Egypt's sovereign credit ratings deeper into junk status, citing "continued pressure" on foreign reserves.

 

S&P helped cause financial crisis with faulty ratings, Feds allege

Eric Holder

Standard & Poor's Corp. helped cause the financial crisis by misleading investors with falsely high credit ratings on bonds backed by toxic subprime mortgages, federal officials alleged Tuesday in announcing a civil suit against the company.

 

Ratings agencies cut outlook for Barclays

Credit rating agencies turned up the heat on Barclays Plc, threatening to lower its credit ratings on concerns over who will run the bank following the departure of Chief Executive Bob Diamond and an uncertain strategy.

 

Moody's defends European bank downgrades

Moody's Investors Service Friday defended its decision to issue a slew of downgrades to Europe's biggest lenders after several of the continent's banks hit out over the "backward" nature of the review.

 

Moody's cuts credit ratings on 15 major banks

JP Morgan Chase

Moody's Investors Service lowered the credit ratings of 15 major banks Thursday, including Bank of America, JPMorgan Chase and Goldman Sachs, saying their long-term prospects for profitability and growth are shrinking. The ratings agency said it was especially concerned about banks with significant financial markets businesses because those markets have become so volatile. Some of the largest European banks were also downgraded, including Barclays, Deutsche Bank and HSBC.

 

Moody's downgrades Nokia to junk status

Nokia

Moody's ratings agency on Friday downgraded Nokia's debt grade to junk status, citing greater than anticipated pressure on the struggling cellphone maker's earnings after it announced plans for major cuts and global layoffs. It kept the outlook negative, meaning it could downgrade it again.

 

U.S. rating faces 2013 cut if no credible plan: Fitch

Fitch Ratings reiterated on Thursday it would cut its sovereign credit rating for the United States next year if Washington cannot come to grips with its deficits and create a "credible" fiscal consolidation plan.

 

Analysis: How Morgan Stanley sank to junk pricing

The bond markets are treating Morgan Stanley like a junk-rated company, and the investment bank's higher borrowing costs could already be putting it at a disadvantage even before an expected ratings downgrade this month.

 

S&P issues warning on California finances

The ratings agency Standard & Poor's warned on Tuesday that it could downgrade California's financial outlook if lawmakers don't pass a credible budget plan this year.

 

S&P cuts Nokia rating to junk

Standard & Poor's has cut its credit rating on Finnish cellphone maker Nokia to junk on expectations of lower sales, following a similar move by Fitch Ratings earlier this week.

 

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