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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: credit rating

credit rating stories: 18 news summaries

(Newser) - The credit crunch is starting to hit even top-tier universities, the Wall Street Journal reports. Both Moody’s and S&P stripped Dartmouth of its AAA rating this week. It’s the 20th college Moody’s has downgraded this year. “That’s comparable to the rate of downgrades... More »

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Ivy League • college • Standard and Poor • Moody's • endowment • Triple-A credit rating • credit rating

Rating Agency Again Judges USA AAA

Uncle Sam's debt holds steady despite 'negative pressure'

May 27, 09 11:28 AM CDT
(Newser) - Moody’s today reassured investors that the United States government won’t lose its AAA credit rating…yet. Last week Standard & Poor warned that it might soon drop Britain’s debt rating, sparking panic that other governments could follow. A Moody’s VP said the US’ rating is the... More »

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United States • Standard and Poor • Moody's • Triple-A credit rating • credit rating • ratings agencies

 Dollar Hits 2009 Low 

Credit rating fears send greenback falling against pound, euro

May 22, 09 6:48 AM CDT
(Newser) - The dollar fell to its lowest level of the year today as investors grew nervous that the US could lose its triple-A credit rating, Reuters reports. The greenback declined to $1.39 against the euro and $1.58 against the pound, echoing similar drops across the world. Yesterday, Moody's said... More »

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currency • exchange rate • pound • euro • US dollar • weak dollar • Triple-A credit rating • credit rating • Jay-ZTV

MARKETS

 Dow Worries Its Way Down 130 


May 21, 09 3:13 PM CDT
(Newser) - Markets were off today on news that credit raters might downgrade England and other countries, the Wall Street Journal reports. Though oil remained stable, the stocks of construction-related firms like Home Depot, Caterpillar, and Alcoa plunged; the price of gold surged. The Dow was off 129.91 to 8,292.... More »

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stock market • NASDAQ • Dow Jones • construction • England • Standard and Poor • S&P 500 • housing sector • credit rating

MARKET open

 Stocks Plummet on 
 UK's Credit Woes 


May 21, 09 8:49 AM CDT
(Newser) - Stocks plummeted at today’s open after Standard & Poor’s warned it might downgrade the UK’s credit rating, the Wall Street Journal reports. The Dow tumbled 126 points, while the Nasdaq and S&P each fell more than 1%. Investors now fear other major economies, including the US,... More »

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stock market • United Kingdom • Dow Jones • Nasdaq • Standard and Poor • S&P 500 • credit rating • financial crisis

(Newser) - With revenues from high-risk cardholders dwindling, credit card companies are moving to impose stiffer fees on customers who've been accustomed to preferential treatment, the New York Times reports. Expect banks to bring back annual fees and slash reward programs, say industry insiders. And card holders who pay off their entire... More »

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credit card • hidden fees • credit rating • interest rates • Credit Cardholder's Bill of Rights • credit card reform

(Newser) - Until the day Lehman Brothers declared bankruptcy, all three of the major credit-ratings agencies swore its debt was safe, rating it A or better. They rated AIG at AA. And they gave 75% of the $3.2 trillion of subprime mortgage securities iron-clad AAA ratings. Moody’s, S&P and... More »

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subprime mortgages • Lehman Brothers • AIG • mortgage backed securities • Standard and Poor • Moody's • Triple-A credit rating • credit rating • ratings agencies • Fitch Ratings

ANALYSIS

 GE's Immelt 
 Lacks Options 

CEO needs to shrink, simplify the business, but can't

Apr 3, 09 2:32 PM CDT
(Newser) - Don’t envy GE’s Jeffrey Immelt. Though his core business remains profitable, the CEO presides over a huge, unwieldy empire. Parts of the conglomerate, like GE Capital, have tanked the entire corporation’s share price and caused it to lose its prized AAA credit rating. Worse, Immelt may  have... More »

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CEO • General Electric • corporations • Jeffrey Immelt • Triple-A credit rating • credit rating • financial crisis

AIG's Woes Point to Larger Insurance Crisis

Federal aid may offer AIG a competitive advantage in ailing industry

Mar 30, 09 9:13 AM CDT
(Newser) - AIG’s troubles were quickly blamed on a single, obscure wing of the company, but its problems extend to its core life-insurance division—underscoring dangerous weaknesses across the entire industry and pointing to the possibility of a second financial crisis, the Los Angeles Times reports. What's more, by offering AIG... More »

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Federal aid • AIG • bailout • American International Group • life insurance • credit rating • financial crisis

Disgraced Credit Raters
See Windfall in Fed Plan

Moody's, S&P could earn big rating Fed bond deals

Mar 20, 09 10:49 AM CDT
(Newser) - Credit-rating companies faulted for their role in creating the financial crisis could rake in more than $1 billion in Ben Bernanke’s new plan to prop up the financial system, the Wall Street Journal reports. The Fed is planning $7 billion worth of bond deals, and they'll need the approval... More »

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Ben Bernanke • Federal Reserve • bonds • Standard and Poor • Moody's • credit rating

(Newser) - Credit-ratings agency Moody’s Investors Service today released what it calls “The Bottom Rung,” a list of 283 companies—15% of all those it tracks—it says are most likely to default on their debts. Moody’s has been widely lambasted for failing to catch the credit problems... More »

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bankruptcy • Eastman Kodak • default • Moody's • credit rating • ratings agencies

 AIG Negotiating 
 Yet Another Bailout 

3rd rescue could see government acquire parts of insurer

Feb 24, 09 6:51 AM CST
(Newser) - AIG is seeking yet another bailout from the federal government, the Financial Times reports, as the troubled insurer prepares to post a quarterly loss the Wall Street Journal expects to exceed $60 billion. The new package would see the government swap its previous $60 billion loan for equity and acquire... More »

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insurance • AIG • bailout • American International Group • credit rating • financial crisis

States Seek to Restrict
Employer Credit Checks

Lawmakers want employers to prove credit reports are necessary

Feb 13, 09 12:00 PM CST
(Newser) - Several states and Obama administration officials are seeking restrictions on employers that unfairly screen out job applicants using credit checks, USA Today reports. Spiking unemployment and mortgage foreclosures brought on by the financial crisis have hurt many, and lawmakers say trustworthy people are being shut out of good jobs.... More »

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foreclosure • unemployment • mortgage debt • Equal Opportunity • credit score • credit rating • financial crisis

Experian Cuts Access to
Credit Scores

Consumers are about to know 33% less about their credit rating

Feb 13, 09 7:37 AM CST
(Newser) - Knowing their credit rating will become one-third harder for consumers as of tomorrow, USA Today reports. Experian, one of the three major companies that calculates credit scores, has canceled its deal with the company that provides the info to consumers, meaning millions will lose access to Experian's version of the... More »

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credit • credit score • credit rating • FICO • Experian

ANALYSIS

Pfizer Deal's $22.5B in Loans Hasn't Unlocked Credit

$22.5B loan in deal to acquire Wyeth comes at 7-9% interest, and lenders can walk

Jan 27, 09 9:11 AM CST
(Newser) - Think Pfizer’s $68 billion deal to buy Wyeth, financed in part with $22.5 billion in loans, means credit markets have thawed? Think again, the Wall Street Journal reports. Pfizer’s lenders—including JPMorgan, Bank of America, Goldman, and Citigroup—are charging high interest (7%-9%, with loans due in... More »

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Citigroup • Bank of America • Goldman Sachs • pharmaceutical companies • Pfizer • credit market • Wyeth • JPMorgan Chase • credit rating

 Obama Moves Quickly to 
 Overhaul Finance Rules 

Details of plan to emerge by April when prez heads to London summit

Jan 25, 09 6:58 AM CST
(Newser) - The Obama administration aims to quickly beef up regulation of the US financial system to stave off economic implosion, the New York Times reports. Plans include tightening rules on hedge funds, credit rating agencies, and mortgage firms, and keeping a closer watch on financial instruments at the center of the... More »

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SEC • hedge fund • mortgage brokers • regulation • economy • credit rating • financial crisis • credit default swap • President Obama

 Russia's Credit Rating Lowered 

Putin in trouble

Dec 9, 08 1:59 PM CST
(Newser) - The plummeting ruble might just bankrupt Russia, the Financial Times reports. Standard and Poor’s has dropped the G8 member’s credit rating from BBB+ to the lowly BBB, warning that the country may have to spend all $200 billion in its sovereign wealth funds to recapitalize the banking... More »

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Russia • currency • Standard and Poor • foreign currency • credit rating • financial crisis

Lawsuit Gives Consumers
Free Look at Credit Scores

At $10B, may be largest settlement in history

May 30, 08 1:25 PM CDT
(Newser) - More than 160 million consumers will be treated to a free look at their credit score, thanks to a class-action settlement against TransUnion Corp., the LA Times reports. Everyone who had any kind of loan account between 1987 and yesterday is entitled to 6 months of free credit reporting;... More »

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lawsuit • credit score • credit rating • TransUnion Corp.

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