Rating Fitch | InvestmentWatch

Fitch slashes credit ratings of Japan’s biggest banks

Fitch has cut the credit rating of three of Japan’s biggest banks over concerns about Tokyo’s ability to support the financial sector, after the nation’s sovereign debt rating was also cut.

The ratings agency lowered its rating by one notch to “A-” from “A” – the seventh highest on a 22-rating scale – for Mitsubishi UFJ Financial Group (MUFG), Mizuho Financial Group (MHFG), and Sumitomo Mitsui Financial Group.

In the same statement, [...]

Moody’s Downgrades Italy’s To Baa2 From A3, Negative Outlook

Just like Spain before everyone took the country to a Sub-A rating, Fitch is once again the decider. S&P has Italy at BBB+, and Now Moody’s just took italy under A to Baa2; only Fitch is still at A-, outlook negative. When all three rating agencies go sub A, there is a 5% ECB repo hike as we explained back in April.

http://www.zerohedge.com/news/moodys-downgrades-italys-baa2-a3-negative-outlook-full-text

US rating faces ’13 cut if no credible plan-Fitch; IMF to put Spanish bailout bill at 40-80 billion euros

US rating faces ’13 cut if no credible plan-Fitch

Fitch Ratings reiterated on Thursday it would cut its sovereign credit rating for the United States next year if Washington cannot come to grips with its deficits and create a “credible” fiscal consolidation plan.

“The United States is the only country (of four major AAA-rated countries) which does not have a credible fiscal consolidation plan,” and its debt-to-GDP ratio is expected to increase [...]

Fitch again warns U.S. debt burden threatens AAA rating

“NEW YORK (Reuters) – Fitch Ratings on Wednesday warned again that the United States’ rising debt burden was not consistent with maintaining the country’s top AAA credit rating, but said there would likely be no decision on whether to cut the rating before 2013.

Last month, Fitch changed its U.S. credit rating outlook to negative from stable, citing the failure of a special [...]

The Thirteen Days of Christmas: A European Implosion

1) World’s central banks act to ease market strains

“Major central banks around the globe took coordinated action Wednesday to ease the strains on the world’s financial system, saying they would make it easier for banks to get dollars if they need them. Stock markets rose sharply on the move.

The European Central Bank, U.S. Federal Reserve, the Bank of England and the central banks of Canada, Japan and Switzerland are took part.

As [...]

Fitch to downgrade Greece 3 notches further to lowest in the world CCC junk status

Earlier today, Fitch announced it would be the first rating agency to declare Greece has defaulted, albeit on an interim basis. According to Reuters, Fitch Ratings will declare Greece in restricted default on its debt due to the steps taken in a new euro zone rescue package but will likely assign new ratings of a low speculative grade once a bond exchange is completed, the [...]

Fitch announced it would be the first rating agency to declare Greece has defaulted

by ZH

According to Reuters, Fitch Ratings will declare Greece in restricted default on its debt due to the steps taken in a new euro zone rescue package but will likely assign new ratings of a low speculative grade once a bond exchange is completed, the agency said on Friday. The agency said that the reduction in interest rates Greece is paying on its debts and [...]

UPDATE:Treasurys With Missed Payments Would Get B+ Rating -Fitch

Obama Says He Would Veto Republican Plan for Mandatory Budget Cuts, Caps

After Greek debt rating, Fitch downgrades banks

National Bank of Greece and four other banks had their credit ratings cut Friday by Fitch Ratings after it downgraded the beleaguered country’s debt ratings.

Ratings on National Bank of Greece, the country’s biggest, and Alpha, Eurobank, and Piraeus Bank were reduced one level from BBB to BBB-, while ATEbank was cut from BBB- to BB+.

BBB- is the lowest investment grade rating.
“The banks will be challenged to maintain their present liquidity [...]

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