Virtually all of the Canadian corporate issues maturing in 2009 carry investment-grade ratings, and 90% have stable outlooks
The global default rate is expected to continue growing; it should peak in the fourth quarter
Loan losses spell trouble
Economic strength will emerge after downturn without major impairment
Charge-offs and delinquencies expected to continue to rise at a pace unprecedented for the Canadian market
Prolonged crisis has stretched government resources
Government stimulus policies should trigger a gradual and painful rebound of the global economy
Failure to maintain public trust would limit measures taken by governments to stimulate their economies
The big goodwill impairment charge announced by Royal Bank of Canada won’t affect its ratings or outlook, Moody’s Investors Service said Friday. The bank announced Friday that it would take a US$850 million goodwill impairment charge related to its international banking unit. In Moody’s view, the bank’s U.S. retail banking operation was the primary source […]
New research from Moody’s Investors Service sees elevated refunding risk for the US$300 billion of investment-grade non-financial corporate bonds that will mature during the next three years.The study of 330 investment-grade non-financial corporate issuers in the U.S. with debt maturing between 2009 and 2011 indicates that credit ratings have migrated downward during the last year. […]