Pace of downgrades expected to slow in 2009
Global corporate rating actions in the third quarter continued to reflect worsening credit and economic conditions with downgrades outnumbering upgrades 3.6 to 1, up from 1.8 to 1 in the second quarter, Fitch Ratings said Thursday.Financial institutions accounted for the brunt of negative rating activity in the third quarter and year-to-date period with downgrades exceeding […]
Fitch Ratings has updated its criteria for rating banks in response to recent developments in the banking industry, the ratings agency said Wednesday.While Fitch has not significantly changed its methodology for rating banks, it has adapted its criteria to address developments in the banking market over recent years, the rating agency said. “As risks in […]
Tighter credit conditions, consumer retrenchment and falling corporate investment lead to sharp deterioration in economic outlook
Fitch Ratings has begun a review of its counterparty criteria for global structured finance transactions in light of recent market turmoil.The rating agency notes that markets have recently seen the failure of a number of high-profile institutions, such as the insolvency of Lehman Brothers, government seizure or receivership of the main Icelandic banks, as well […]
Rating agency warns that fund of hedge funds may be unable to meet redemption requirements if risks are not closely monitored
The new outlook reflects ongoing concern about the indstry’s expanding equity market exposure
But Fitch cautions that the transition to the universal banking model has not been an automatic success for other investment banks
Rating agency maintains negative outlook
Credit erosion gains momentum in industrial sector