Fitch Ratings

14 Stories

Fitch Puts US Credit Rating on 'Negative' Watch

Keeps it at AAA, but warns things might change because of debt ceiling

(Newser) - As lawmakers scramble to strike a last-minute deal that would allow the government to keep borrowing money, Fitch Ratings issued a shot across the bow this afternoon: It put the nation's AAA on a "negative" watch, reports MarketWatch , meaning a downgrade is possible unless things get resolved soon.... More »

Fitch Upgrades Greece, Deems Rating 'Stable'

...But that's still junk status

(Newser) - We have something rare for you today, folks: Positive economic news out of Greece. Fitch has upgraded the beleaguered country's dismal credit rating from CCC to B-, saying it had made "clear progress" toward trimming its budget deficit and its risk of dropping out of the euro currency... More »

Fitch Threatens Downgrade If Debt Deal Is Too Weak

Meanwhile, Pat Toomey introduces backup bill

(Newser) - The US credit rating is once again in danger thanks to a debt ceiling showdown. Fitch today announced that it may downgrade the US even if lawmakers manage to strike a deal, CNN Money reports. Fitch already has a negative outlook on the US' AAA rating, and said that would... More »

Cyprus Wants a Bailout, Too

After Fitch cuts its credit rating

(Newser) - Another day, another European Union bailout. This time Cyprus is the one lining up for a handout, Bloomberg reports. Officials today officially asked European authorities for access to the euro bailout fund, saying they were being hammered by contagion from Greece, the government said in an emailed statement. More »

Bailout Fears Grow as Fitch Downgrades Spain

Credit rating is now just two notches above junk status

(Newser) - More bad news for Spain in particular and Europe in general: Fitch downgraded Spain's credit rating from A to BBB today, two notches above junk, and said the nation may need as much as $126 billion to bolster its banking system. That's way up from a previous estimate... More »

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

(Newser) - 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 »

14 Stories