Entries tagged "Fitch Ratings"

Kroll to launch new credit rater

Jules Kroll, the founder of security and intelligence firm Kroll Inc., is planning to launch a credit rating agency to take on the existing "big three".

The ratings game

A Moody's official said there was no evidence of wrongdoing at the ratings agency, though doubts remain. The Deal's Nathaniel Baker takes a look at how credit agencies should've functioned in an ideal world.

Hearst ups Fitch stake: Bonanza or boondoogle?

Hearst raises its stake in Fitch Ratings to 40% with the addition having its pros and cons.

Uncle Sam could be newest rating agency

The SEC is meeting at a round table Wednesday to consider the future of credit rating agencies, which many feel partly contributed to the credit crisis.

Ratings Review: RGA likely to see Fitch downgrade after MetLife exit

MetLife Inc. plans to divest its 52% stake in Reinsurance Group of America Inc. as both companies say the deal will strengthen each firm's ability to focus on developing and growing its core businesses. But if you ask credit ratings agency Fitch Ratings, the deal won't necessarily be a safe play for RGA....

Ratings Review: AIG's credit gets Moody's downgrade

Credit rating agencies Standard & Poor's and Fitch Ratings already downgraded debt ratings on the world's largest insurer, American International Group Inc. Now, fellow credit agency Moody's Investor Service joined the downgrade bandwagon, lowering its senior unsecured debt rating on AIG to Aa3 from Aa2 Thursday, based partly on the company's recent announcement of a $7.81 billion first-quarter loss.  ...

Ratings Review: Cnet deal to have no impact on CBS credit

CBS Corp. was looking for a jump-start to its business. What executives at the New York-based media company came up with is the $1.8 billion acquisition of Internet media company Cnet Networks Inc. From a credit perspective, Fitch Ratings (BBB long-term ratings; BBB senior unsecured debt rating and F2 short-term rating) and Moody's Investor Services (Baa3 long-term rating, P3 short-term rating) says the deal won't affect CBS' debt ratings....

Ratings Review: AIG downgrades spell trouble

Financial conglomerate American International Group Inc., which is best known for its insurance holdings, may be ripping at the seams. Credit ratings agencies Standard & Poor's and Fitch Ratings each downgraded their ratings Monday on the world's largest insurance company. S&P lowered its long-term rating on AIG to AA- from AA as well as placing these and other short-term ratings on Creditwatch with negative implications, meaning that another downgrade maybe on the horizon. S&P says if the company raises less capital than the previously announced $12.5 billion to cover losses, then a downgrade would most likely happen. ...

Countrywide's creditworthiness is shrinking

Credit rating agency Fitch Ratings gave a hint Monday that it may downgrade Countrywide Financial Corp.'s ratings by placing the mortgage lender on its rating watch evolving list. The move follows Standard & Poor's May 2 downgrade of Countrywide. Both rating agencies initiated their moves because Bank of America Corp. filed an amended S-4 on May 1, which opens the possibility that any remaining Countrywide debt could remain obligations of the mortgage lender....

JP Morgan still has investment grade credit

With the addition of Bear Stearns Cos. to J.P. Morgan & Chase Co., one has to wonder: how would that union affect the creditworthiness of the acquirer? Apparently, credit rating agencies S&P and Fitch Ratings would leave their credit rating on J.P. Morgan unchanged for now. So, in the parlance of credit speak, J.P. Morgan's credit is still investment grade. ...

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