Posts Tagged ‘Moody’s’
Moody’s: UK’s top-notch rating at risk
Credit rating agency Moody’s has today said Britain’s AAA rating is at risk if growth remains weak and the Government’s budget deficit reduction plans fail to meet target. The announcement sent sterling below €1.12 for the first time in four weeks and also lost ground against the US dollar. Weak economic growth has led many [...]
Moody’s downgrades Greece credit rating further
Credit rating agency Moody’s has once again cut Greece’s credit rating by three notches into junk territory. The measures come after Moody’s said the country has a 50:50 chance of defaulting on its debts in the next five years. Moody’s said: “The first trigger for today’s downgrade is Moody’s view that Greece is increasingly likely [...]
Nationwide reports rise in underlying pre-tax profits
Britain’s largest building society, Nationwide, has today posted a surge in underlying pre-tax profits. Nationwide said pre-tax profits fell 7% to £317 million – primarily due to accounting changes. However, underlying profits surged 30% to £276 million in the year to 4 April. Meanwhile, the amount written off for bad loans to customers dropped by [...]
14 UK banks could see credit rating cut
Moody’s Investors Service has today announced it is reviewing 14 UK banks and building societies for downgrade due to the withdrawal of Government support. Elisabeth Rudman, a Moody’s Senior Credit Officer, said: “It has been initiated in response to ongoing guidance from the UK authorities (the Bank of England, the Financial Services Authority and the [...]
14 UK banks could see credit rating cut
Moody’s Investors Service has today announced it is reviewing 14 UK banks and building societies for downgrade due to the withdrawal of Government support. Elisabeth Rudman, a Moody’s Senior Credit Officer, said: “It has been initiated in response to ongoing guidance from the UK authorities (the Bank of England, the Financial Services Authority and the [...]