Fitch Cuts Puerto Rico’s Debt to Junk
Fitch Ratings joined Standard & Poor's and Moody's Investors Service in downgrading Puerto Rico's debt to junk status.
View ArticleMoody’s Places R.B.S. on Review for Downgrade
The credit rating agency said it placed the Royal Bank of Scotland on review after the British lender said it would set aside nearly 3 billion pounds, or about $5 billion, to cover potential litigation...
View ArticleS.&P., in Lawsuit Defense, Seeks Documents About Obama-Geithner Meetings
Standard & Poor's is seeking information about certain meetings between President Obama and Timothy F. Geithner in 2011, hoping the details will help show that a lawsuit filed by the government in...
View ArticleBritain Pares Its Stake in Lloyds Bank, But R.B.S. Remains a Tough Sell
The British government sold a 7.87 percent stake in the Lloyds Banking Group for about $6.9 billion. But it seems increasingly unlikely that the government will begin paring its stake in Royal Bank of...
View ArticleStandard & Poor’s Warns of Possible Volcker Rule Downgrades
Standard & Poor’s has released an analysis on Monday contending that Goldman Sachs and Morgan Stanley, more than any other Wall Street bank, could suffer under the so-called Volcker Rule.
View ArticleEgan-Jones Barred for 18 Months on Some Ratings
The agreement settles accusations that the firm made misstatements about its record when applying for a government designation, the S.E.C. said.
View ArticleMoody’s Warns Jefferies on ‘Excessive’ Pay
The credit rating agency said in a note on Monday that it regarded the large compensation packages awarded to top executives as a potentially ominous event for bondholders.
View ArticleU.S. Accuses S. & P. of Fraud in Suit on Loan Bundles
The Justice Department has filed civil fraud charges in federal court in Los Angeles against Standard & Poor's over its ratings of mortgage-related securities.
View ArticleS.&P. Calls Government’s Suit ‘Meritless’
Standard & Poor's Ratings Services defended its corporate practices on Tuesday, saying a civil lawsuit filed against it by the Justice Department was unjustified.
View ArticleJustice Department Faces Uphill Battle in Proving S.& P. Fraud
The Justice Department in a civil complaint accused Standard & Poor's of issuing faulty credit ratings on securities tied to mortgages. While the document is chock full of dubious actions, it may...
View ArticleS.& P. E-Mails on Mortgage Crisis Show Alarm and Gallows Humor
In 2006, some executives at Standard & Poor's pushed to revise the firm’s rating models in hopes of preserving market share, while others expressed deep concerns about the poor performance of the...
View ArticleU.S. Contends S.& P. Purposely Used Faulty Models
The Justice Department’s suit against Standard & Poor’s over mortgage-related securities says computer programs assessing risk were manipulated to ensure high ratings and big profits.
View ArticleS.&P. Lawsuit Draws New Line in the Sand
The government's lawsuit against Standard & Poor's over credit ratings suggests that we may see fewer settlements and more court cases involving financial institutions in the future.
View ArticleG.E. May Still Hold Upper Hand in Alstom Bid
The decision by Siemens to team up with Mitsubishi Heavy Industries in a potential bid for Alstom's power assets probably won’t be enough to overcome rival interest from General Electric, Olaf Storbeck...
View ArticleItalian Credit Rating Agency Cerved Down 5% in Debut
Cerved Information Solutions fell to 4.85 euros a share in its first day of trading after pricing its initial public offering last week at €5.10 a share.
View ArticlePuerto Rico’s Indebted Power Utility Adds to Island’s Problems
The utility is running out of time to negotiate a deal with its lenders, part of a broad reckoning for an island that relies on Wall Street to finance basic functions.
View ArticleS.E.C. Scrutinizes McGraw Hill Over Commercial Mortgage Securities
McGraw Hill said the S.E.C. had sent the company a Wells notice over commercial mortgage-backed securities that were rated by its S.&P.’s Ratings Services subsidiary.
View ArticleS.&P. Says Argentina Has Defaulted
After more than five hours of mediated talks between the government and the hedge funds on Wednesday, neither side appeared closer to a deal.
View ArticleMoody’s Tamps Down Concerns About Surge in Auto Loans
In a new report, Moody's says banks have remained “conservative” in their lending. While the report acknowledges rising auto loan balances, it concludes that “consumers owe less now than they did...
View ArticleStandard & Poor’s Warns of Possible Volcker Rule Downgrades
Standard & Poor’s has released an analysis on Monday contending that Goldman Sachs and Morgan Stanley, more than any other Wall Street bank, could suffer under the so-called Volcker Rule.
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