Recovery rates are also being affected by typical cyclical and industry specific challenges as well as new stressors
Revision reflects “magnitude of the economic weakness now facing the province”
Profits for 2009 are likely to be weaker than the first quarter results suggestThe outlook for large global banks remains negative as credit problems will persist beyond the beginning of any economic recovery, Fitch Ratings says.For the major global financial institutions, higher capital ratios, less off-balance sheet activity and better asset spreads are likely over […]
Better than expected profits recorded by U.S. banks in the first quarter will be tough to sustain as credit quality deteriorates, cautions Fitch Ratings.Credit losses at major banks continue to rise while strength from market-base revenues, such as mortgage origination and fixed income trading, are not likely to persist, the rating agency cautioned.It also noted […]
Rating agency affirms ratings for Canadian banks
Fitch Ratings has placed the ratings of nine U.S. banking companies and their subsidiaries on Rating Watch Negative, based in its view that they may be more vulnerable to the credit cycle, the rating agency said Friday.The affected banks are: BB&T Corp., Discover Financial Services, Fifth Third Bancorp, KeyCorp, M&T Bank Corp., Popular, Inc., Regions […]
Vulnerable companies are in the manufacturing and media sectors
U.S. bond issuance declined dramatically in the second half of 2008
Rating agency downgrades Bank of America, Citigroup
Rating agency cites concerns about profitability in market uncertainty