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NEWS ABOUT: Fitch Ratings

Fitch Hacks US Debt Outlook After Super Committee Fails

Downgrade of AAA rating could loom

(Newser) - Thanks to the super committee’s super failure, Fitch Ratings has downgraded US debt outlook to negative. Fitch did not lower the US’ AAA rating for long-term treasuries, but a Fitch official says a negative debt outlook often leads to such a downgrade. That decision is not expected until late... More »

SEC Sees 'Apparent Failures' at Ratings Agencies

But new report doesn't offer specifics about the companies

(Newser) - The SEC wagged its finger at the ratings agency industry today, accusing each of the 10 registered companies of "apparent failures" in key areas, including how they manage conflicts of interest, reports Reuters . Alas, those looking for specifics against the likes of Moody's, Fitch, and Standard & Poor'... More »

Feds Probing Standard and Poor's

Agency's behavior before financial crisis in spotlight

(Newser) - Looks like Standard & Poor's could be in for a downgrade of its own—from the Justice Department. Federal investigators are probing possible wrongdoing at the credit ratings agency in the years leading up to the financial crisis, sources tell the New York Times . The probe, expected to lead... More »

Fitch Reaffirms AAA Rating

Also says outlook on US ratings is stable

(AP) - Take that, Standard & Poor's: Fitch Ratings says it will keep its rating on US debt at the highest grade, AAA, and says its outlook on the US ratings is stable. Fitch cited the United States' "flexible, diversified, and wealthy economy," as well as its flexibility in... More »

Fitch Threatens to Downgrade US, Too

Joins S&P and Moody's

(Newser) - The third major bond rating agency joined the chorus warning that the US is in danger of losing its AAA credit rating today. Fitch Ratings said it was placing US in the “ratings watch negative” category, which according to Politico can lead to a downgrade in three to six... More »

Bankers Now Think Citi Less Risky Than Goldman

Criticism sends Goldman debt costs higher

(Newser) - One is the most profitable, successful bank on Wall Street, the other came within a hairsbreadth of nationalization. Who would you rather lend money to? Apparently, right now investors are going with the latter. As of Monday, Goldman Sachs' debt was yielding 2.73%, to just 2.29% for Citigroup,... More »

Banks Gamed Rating Agencies Using Their Models

High ratings were reverse-engineered for lousy packages

(Newser) - With rating agencies under fire for giving good ratings to terrible investments, Gretchen Morgenson and Louise Story argue in the New York Times today that it wasn't all their fault. In a push for transparency, the likes of Moody's, Sandard & Poor's, and Fitch made public the computer models they... More »

Ohio Sues Credit Rating Agencies for Role in Crisis

Moody's, S&P, Fitch lied about risk of toxic securities, AG charges

(Newser) - Ohio's attorney general sued the three biggest credit-rating agencies today on behalf of state employee retirement funds that lost $457 million in complex securities that imploded in the financial crisis. Richard Cordray alleges Moody's, Standard & Poor's, and Fitch conspired with issuers of the high-risk investments to give top ratings... More »

Credit Rating Agencies Off-Base But Bullet-Proof

(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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