Tag:
Credit Rating
Latest Headlines
Latest Headlines
S&P downgrades big U.S. banks
In a widely expected move, Standard & Poor's downgraded some big U.S. banks.
Bank of America, Bank of America Merrill Lynch, Morgan Stanley, Goldman Sachs and Citigroup had their long-term credit ratings cut to A- from A. JPMorgan Chase was cut one level to A from A+. Wells Fargo had its r
Egan-Jones vs. Jefferies battle continues
This is shaping up as quite a battle.
In some ways, the plight of mid-market powerhouse Jefferies was sparked by credit rating firm Egan-Jones--the one with the somewhat unique investor-pays business model. Egan-Jones issued a report cutting the broker dealer's credit rating for what it felt w
Credit rating agencies assess debt crisis
Fitch rattled equity markets recently when it published a warning on the exposure of top U.S. banks to the European debt crisis.
According to the credit rating company, the six biggest U.S. banks--JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley--held a
Bank of America's derivatives shift stokes concerns
Bank of America raised eyebrows not too long ago when it said intended to shift some derivatives assets to a unit that holds insured funds, apparently at the request of counterparties that were concerned about recent credit downgrades.
Recall that Bank of America's bonds had recently been down
Study: Credit rating agencies reward companies that pay most
You can add this to the list of credit rating company woes: A new study has found that these companies reward clients that pay the most money in fees with more favorable ratings.
The idea that companies can pay for more favorable ratings is not anything the rating companies will ever admit to.
Municipal funds terminate Standard & Poor's
Much of the backlash to Standard & Poor's controversial downgrade of Treasury debt has been driven by media leaks and public denunciations, which have combined to create a portrait of company with an opaque process, subpar analytical ability and dubious motives.
This may or may not be fair
Insider trading at S&P? SEC opens probe
We have suggested that there could be some government investigations into the timing and substance of Standard & Poor's downgrade of Treasury debt, which rocked the market recently. I still think this will materialize. But I certainly did not have insider trading on my mind.
In any case, t
Standard & Poor's "secretive" credit rating committee
The New York Times weighs in on the Standard & Poor's controversy with a look at what it calls the "secretive" committee of sovereign credit raters that operates "deep inside" the company.
S&P "has declined to say whether the vote was unanimous, to identify all the members of the c
Was transparency lacking in S&P downgrade decision
Standard & Poor's decision to lower the credit rating of U.S. Treasuries to AA+ from AAA continues to generate criticism. One theme has been a general lack of transparency, a charge that looms larger in light of the $2 trillion methodological error that the agency owned up to right before it a
S&P to face withering backlash, investigations likely?
"Pardon me for asking, but who gave Standard & Poor's the authority to tell America how much debt it has to shed, and how?"
Robert Reich poses a good question, noting that the downgrade of U.S. Treasuries came at a very bad time. My sense is that all the headlines and controversy may come
