Lowered ratings reflect “the high likelihood of default”
U.S. subsidiaries downgraded
Rating agency cites insurers efforts to reduce risk
Outlook remains stable
The problems of 2008 and 2011 are not that different. Have credit-rating agencies learned their lessons this time around?
Outlook stable
Cuts reflect reduced earnings trends
Rating drift remains positive at the speculative grade level, but deteriorated at the investment grade level
Outlook stable
If current capital market conditions persist, Australian investment bank may face challenges