This Friday, Moody's cut the United States' outlook for the quality of its sovereign debt from stable to negative. The reason for this decision is the huge budget deficits and the reduced capacity to service the debt. A cut in the outlook to negative could lead to...
Tag: Moody's
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Moody's: "Angola's rating will remain at 'B3', but with a positive outlook"
Financial rating agency Moody's decided on Tuesday to keep Angola's rating at 'B3' and the outlook positive, reflecting the government's efforts in the area of public finances and exchange rate management. "Moody's decision to keep the outlook positive reflects the government's efforts to restore public finances and...
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Moody's downgrades 10 US banks and places six on review
Financial rating agency Moody's on Tuesday downgraded 10 small and medium-sized banks in the US, leaving another six on review, while revising the outlook for 11 more financial institutions. "The second-quarter results of many banks revealed growing profitability pressures that reduce their ability to generate...
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Moody's: "Mozambique faces debt management challenges despite optimism on gas exploration"
"The increase in Mozambique's domestic debt" and a recent "miscommunication highlight the challenges of debt management", although there is hope for the results of future gas exploration, according to financial rating agency Moody's. According to the agency's investor analysis, quoted by Lusa, "although there is a lot of will to...
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Moody's revises TAP's ratings upwards and raises outlook from 'stable' to 'positive'
Moody's has today revised upwards several ratings for Portuguese airline TAP, upgrading the company's outlook to positive after an increase in profitability since the last review in April last year. In a statement released today, quoted by Lusa, the financial rating agency announced that it had revised upwards...
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Moody's raises China's GDP growth forecast to 5% in 2023 and 2024
US financial rating agency Moody's on Wednesday raised its forecast for China's GDP (Gross Domestic Product) growth from 4% to 5% in 2023 and 2024. In an update of growth forecasts for the world's main economies, the rating agency said that the Chinese government's "decision to fully relax measures...
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Moody's forecasts "solid profits" for banks in 2023
Financial rating agency Moody's expects "solid profits" for banks in 2023, with rising interest rates and strengthened balance sheets offsetting the global economic slowdown. "Global banks will be protected from rising non-performing loans in 2023 by rising interest rates and solid reserves and the...
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Moody's one step closer to downgrading Italy's rating to "junk
Moody's has downgraded the outlook for Italy's debt from "stable" to "negative" and is just one step away from putting it at the "junk" level. Thus, the rating agency may be in the process of placing the rating at the "junk" level. Currently, the rating is at Baa3, a nomenclature corresponding to the most...
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"Cryptocurrencies could fragment payment system in weaker economies"
The financial rating agency Moody's warned on Wednesday that the adoption of cryptocurrencies can lead to excessive fragmentation of the payment system and weaken financial stability, especially in countries with weaker macroeconomic structures. The investment service of this agency assured that cryptocurrencies are increasingly being used by countries with ratings of...
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"Mozambique among African countries most exposed to impact of war in Ukraine"
Moody's financial rating agency on Tuesday deemed Mozambique one of the African countries most exposed to food and energy shocks from Russia's invasion of Ukraine, warning of likely social and political unrest. "Over the next 18 months, we anticipate an increase in social and political risks as a result of the global shock...