MUMBAI/BENGALURU (Reuters) -India’s worsening water shortage, triggered by high consumption amid rapid economic growth and frequent natural disasters, can negatively impact the South Asian nation’s sovereign credit strength, Moody’s Ratings said on Tuesday. Millions of Indians face water shortages every summer when water demand rises in farms, offices and homes against a limited supply, but […]
(Bloomberg) — Moody’s Ratings said at least six US regional banks with a substantial exposure to commercial real estate loans are at risk of having their debt ratings downgraded. Most Read from Bloomberg The long-term ratings of First Merchants Corp., F.N.B. Corp., Fulton Financial Corp., Old National Bancorp, Peapack-Gladstone Financial Corp. and WaFd were placed […]
(Bloomberg) — South Africa may struggle to make much more progress on resolving the country’s longstanding challenges if a coalition government emerges after elections this month, Moody’s Investors Service cautioned. Most Read from Bloomberg “These include stimulating years of sluggish economic growth, curbing chronic power shortages and reducing very high unemployment,” said Aurelien Mali, vice […]
New-energy vehicles (NEVs) will make up about half of new car sales in mainland China by 2030, as state incentives and expanding charging stations win over more customers, according to Moody’s Investors Service. The projection suggests a steady and continuous gain over the next six years as subsidies for car buyers and tax breaks for […]
(Bloomberg) — New York Community Bancorp’s credit rating was raised by Moody’s Investors Service after the embattled lender landed a capital injection from investors led by Steven Mnuchin, though the grade remained in junk territory. Most Read from Bloomberg Moody’s lifted the bank’s long-term issuer rating to B2 from B3, still five levels below investment […]
(Bloomberg) — New York Community Bancorp’s credit grade was cut to junk by Fitch Ratings, and Moody’s Investors Service lowered its rating even further, a day after the commercial real estate lender said it discovered “material weaknesses” in how it tracks loan risks. Most Read from Bloomberg Fitch downgraded the bank’s long-term issuer default rating […]
An unfinished residential compound developed by China Evergrande Group in the outskirts of Shijiazhuang – REUTERS/Tingshu Wang China’s property crisis deepened as Moody’s withdrew a flurry of credit ratings from key companies. The credit ratings agency issued sudden removals for 11 Chinese businesses today in a blow to Beijing’s efforts to revive the fortunes of […]
TEL AVIV, Israel (AP) — Israel’s finance minister on Sunday slammed the decision by financial ratings agency Moody’s to downgrade Israel’s credit rating, saying the announcement is a “political manifesto” that “did not include serious economic claims.” Moody’s dropped the rating on Israel’s debt on Friday, warning that the ongoing war in Gaza and a […]
TEL AVIV, Israel (AP) — Israel’s finance minister on Sunday slammed the decision by financial ratings agency Moody’s to downgrade Israel’s credit rating, saying the announcement is a “political manifesto” that “did not include serious economic claims.” Moody’s dropped the rating on Israel’s debt on Friday, warning that the ongoing war in Gaza and a […]
In January, Barry Sternlicht, the billionaire founder and CEO of real estate giant Starwood Capital, warned that there’s going to be an “existential crisis” in the commercial property market. His comments followed a prediction from Cantor Fitzgerald’s billionaire chairman and CEO, Howard Lutnick, for between $700 billion to $1 trillion of commercial real estate defaults […]
New York Community Bancorp (NYCB) is attempting to reassure investors about its deposits, liquidity, and governance following a weeklong plunge in the company’s stock and a decision by Moody’s to cut the bank’s credit rating to junk. The $116 billion commercial real estate lender put out a press release just before midnight ET on Tuesday […]
Embattled New York Community Bancorp continued falling early Wednesday after appointing a new executive chairman and issuing a financial update late Tuesday. Shares dove prior to the announcement as Moody’s Investor Service late Tuesday slashed NYCB’s credit rating by two rungs to junk. Regional bank fell in early trade after a slight premarket gain following […]