Entries tagged "ratings agency"
Moody's downgraded its debt rating on the coffee shop to Baa3, the last rung before junk bond territory.
After 53 years, General Electric loses its AAA debt rating from S&P, but still has a top notch rating from Moody's.
For some, Tishman Speyer Properties' $5.4 billion purchase in 2006 of Manhattan residential complex Peter Cooper Village and Stuyvesant Town symbolized the peak of the real estate boom. Now, the bubble has burst, and the New York-based real estate company is starting to feel some pain as several bonds tied to the 80-acre middle-income development were downgraded by Moody's Investors Service last week following a Standard & Poor's downgrade just a few weeks earlier....
Was it just coincidence or retribution that Ambac Financial Corp. ended its ratings contract with Fitch Ratings? Ambac released a terse press release Wednesday of its action, adding, "Our decision to refocus and realign our business around our core expertise in the public finance and infrastructure sectors has led us to re-evaluate our ratings needs." And for Ambac, its needs apparently didn't include spending money on a ratings downgrade from Fitch that only hurt its bottom line. ...
