Global credit quality for corporate issuers continued to worsen during the first quarter of 2009, reports Moody’s Investors Service.“This downgrade rate is higher than pre-economic crisis figures,” reports Moody’s analyst, Jennifer Tennant. For example, the downgrade rate in the first quarter was 13.8%. By comparison, the rate for 2006 as a whole was 10.2%, and […]
Three largest CRAs have substantially implemented changes to code
The CSA and some international regulators have come up with plans on how to regulate these agencies
U.S. bond issuance declined dramatically in the second half of 2008
Following the recent decision by provincial government officials enabling the delivery of online credit reports for a fee in Nova Scotia, TransUnion is making online access to credit reports, available to consumers in the province for the first time, the company announced Tuesday.“We have consistently stated our willingness and desire to provide Nova Scotians with […]
Pace of downgrades expected to slow in 2009
Amendments intended to increase transparency and accountability
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 […]
Slowdown will affect all regions
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 […]