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#Ratings Agency

# ratings-agency - Tuesday 31 December, 2019

Gardaí cut backlog of child sex abuse case analysis in half, but long delays remain

At one stage, it could take five years before gardaí would get to a case because of the volume of material for analysis.

# ratings-agency - Friday 21 March, 2014

Ratings agency S&P is a Ryanair fan, praising ‘industry-leading operating efficiency’

The ratings agency did however note Ryanair’s ‘reputation for providing less customer-friendly services than some of its peers’.

# ratings-agency - Friday 12 July, 2013

The 9 at 9: Friday

Good morning. Here are the nine stories you need to know as you kick off your day.

# ratings-agency - Monday 8 October, 2012

Moody's give new ESM an AAA rating - but outlook is negative

Moody’s said that a ‘weakening in the political commitment’ among eurozone states towards the ESM would have negative implications.

# ratings-agency - Tuesday 24 July, 2012

Moody's issues negative outlook warning for Germany

Ratings agency also revised stable outlooks for the Netherlands and Luxembourg to ‘negative’.

# ratings-agency - Friday 27 April, 2012

Bad day for Spain: Record unemployment AND a credit downgrade

Almost one quarter of the workforce is unemployed, according to the latest figures out today.

# ratings-agency - Tuesday 13 March, 2012

Fitch ratings agency upgrades Greece

The move follows a crucial bond swap with private creditors by Greece at the weekend, which knocked over €100 billion off the country’s national debt.

# ratings-agency - Monday 27 February, 2012

Moody's backs 'credit positive' sale of state assets

In its weekly credit outlook, Moody’s welcomes the plans to sell state assets – but that our position remains “challenging”.

# ratings-agency - Wednesday 22 February, 2012

Fitch: 'Highly likely' that Greece will default soon

The ratings agency has downgraded Greece just one day after EU leaders agreed on a €130 billion bailout deal for the country.

# ratings-agency - Tuesday 14 February, 2012

Moody's downgrades six European countries - and warns of more to come

France and the UK were both warned that they could lose their coveted AAA credit rating.

# ratings-agency - Monday 13 February, 2012

Two ratings agencies downgrade Spanish banks

Fitch cut the ratings on four of Spain’s financial institutions – while S&P downgraded 15.

# ratings-agency - Wednesday 18 January, 2012

Irish semi-states moved from Standard and Poor's 'watch' list

Bord Gais, the DAA and the ESB are currently rated ‘negative’ by S&P.

# ratings-agency - Friday 13 January, 2012

S&P runs riot in the eurozone: France loses AAA rating as Portugal turns to junk

A French downgrade is bad news for us, too – because Europe’s bailout fund is also likely to be downgraded by S&P.

The 5 at 5: Friday

5 stories, 5 minutes, 5 o’clock…

# ratings-agency - Friday 6 January, 2012

Fitch ratings agency downgrades Hungary to junk status

The agency also said there was a more than 50 per cent chance of another downgrade within two years.

# ratings-agency - Friday 16 December, 2011

Ratings agency may downgrade Ireland - and 5 other eurozone countries

Fitch ratings agency has this evening said it is considering downgrading Ireland, Italy, Spain, Belgium, Slovenia and Cyprus by one or two notches.

# ratings-agency - Tuesday 13 December, 2011

Ireland's economic growth forecast to hit just 1 per cent next year

Moody’s says that the fragility of the state’s economic recovery coupled with recent eurozone pressures mean growth won’t hit the govt target for 2012.

# ratings-agency - Wednesday 7 December, 2011

S&P puts whole of European Union on notice of possible downgrade

The rating agency’s latest move follows a similar measure imposed on most eurozone countries earlier this week.

# ratings-agency - Wednesday 30 November, 2011

S&P downgrades major US banks

The agency’s latest credit ratings downgrades include Bank of America, Goldman Sachs and JPMorgan Chase.

# ratings-agency - Monday 28 November, 2011

'The situation in the euro area is rapidly deteriorating,' says OECD

Fresh warnings over health of the eurozone as the OECD and Moody’s voice concerns over continuing spread of debt contagion.

The 9 at 9: Monday

Nine things to know by 9am: More details on Budget 2012 pain, Archbishop denies media “anti-Catholic bias”, good news from BoI, and the end of Janet’s X Factor odyssey

# ratings-agency - Monday 14 November, 2011

Concern for France's AAA rating as 10-year bond yields rise

Investors are becoming increasingly concerned about France’s overall debt and deficit levels.

# ratings-agency - Tuesday 18 October, 2011

Moody's warns on France's credit rating

The agency says it may put France’s Aaa rating on negative outlook in the coming months over a weakening in the government’s financial position.

The 9 at 9: Tuesday

Nine things to know this morning…

# ratings-agency - Tuesday 20 September, 2011

Italy's credit rating slashed by Standard and Poor's

The agency said a “weakening” economy and fragile government were putting the country at risk.

# ratings-agency - Saturday 13 August, 2011

How did ratings agencies become so powerful? Trains and recessions, that’s how

In the aftermath of the debt downgrade, people are wondering how S&P and the likes became so powerful. Here’s the answer.

# ratings-agency - Tuesday 26 July, 2011

Obama and Boehner spar over mounting US debt crisis US Debt This post contains videos

Obama and Boehner spar over mounting US debt crisis

The US president has called for a “balanced approach” to the crisis, but the House Speaker says Obama cannot have a “blank cheque” for it.

# ratings-agency - Wednesday 13 July, 2011

European Commission slams "incomprehensible" Moody's downgrade

Jose Manuel Barroso’s spokesman says the Commission can’t understand why Moody’s is taking such a dim view.

Irish bond prices rocket - again - on 'junk' downgrade

If Ireland borrowed for two years, it would have to pay 18.6 per cent interest – 14 times what Germany would.

# ratings-agency - Wednesday 6 July, 2011

EU Commission criticises ratings agencies

Commission President Barroso suggests market “bias” against European countries because of agencies’ reports.

# ratings-agency - Tuesday 14 June, 2011

Greece's credit rating now the lowest in the world

Standard & Poor’s drops Greece another three notches and says any restructure will be considered a sovereign default.

# ratings-agency - Thursday 5 May, 2011

House prices hit rock bottom - but they won't rise again anytime soon

Standard & Poor’s said in a report that house prices in Ireland are currently at pre-2000 levels of affordability but it sees no sign of the market being active over the next couple of years.

# ratings-agency - Tuesday 19 April, 2011

US government bonds put on 'negative' watchlist by S&P

The very benchmark of government financial reliability – the US Treasury bond – is given a talking-to by Standard & Poor’s.

# ratings-agency - Friday 25 March, 2011

Portuguese bond yields soar after overnight debt downgrade

Portugal’s crisis is taking the shine off the EU summit in Brussels, where leaders have put the finishing touches to a “comprehensive package” in response to the financial crisis.

# ratings-agency - Monday 7 March, 2011

From Business ETC Moody's downgrades Greece again but says Irish ratings cut is not imminent Debt

Moody's downgrades Greece again but says Irish ratings cut is not imminent

The ratings agency is closely monitoring Ireland’s attempt to negotiate better terms on the EU/IMF deal – but has said it did not have imminent plans to downgrade Ireland.

# ratings-agency - Wednesday 15 December, 2010

Moody's warns of downgrade to Spanish debt

The ratings agency says it’s considering a downgrade for Spain – but the news doesn’t make a major impact on bond markets.

# ratings-agency - Saturday 27 November, 2010

Anglo Irish Bank credit rating downgraded to junk

More bad news for Irish banks with latest round of credit downgrades.

# ratings-agency - Wednesday 6 October, 2010

Fitch downgrades Ireland, sets outlook to negative Credit Rating

Fitch downgrades Ireland, sets outlook to negative

The agency points to the cost of the Anglo bailout to explain the downgrade.

# ratings-agency - Wednesday 25 August, 2010

IRELAND’S NATIONAL DEBT might be becoming more expensive as a direct result of the decision by ratings agency Standard & Poor’s – but at least we can console ourselves in fact that the Financial Times has been amused by the whole thing.

Writing on the paper’s Alphaville blog this morning, Neil Hume seems to take great delight in the “punch-up” (in his words) between “a downgraded sovereign and a rating agency”.

Reporting that Ireland had “come out swinging” after the S&P move to downgrade Ireland’s sovereign rating from AA to AA-, Hume quotes a rep from the National Treasury Management Agency in a piece from Reuters.

The emphasis is that of the FT:

In a strongly worded statement, the National Treasury Management Agency said it disagreed with S&P’s view that Ireland faced substantially higher costs to bail out its ailing banking sector.

“In terms of the specific analysis by S&P, this is largely predicated upon an extreme estimate of bank recapitalization costs of up to 50 billion euros,” the NTMA said.

We believe this approach is flawed.”

It also points out that the ‘spread’ – the percentage difference in interest offered – in German and Irish government bonds has now reached a record 3.29%, while in August 2007 Irish borrowing was cheaper than that of Germany.

“Either way,” Hume concludes, “its [sic] provided some entertainment on a quiet summer trading day.”

The New York Times’ much-respected economics blogger, Paul Krugman, has offered solace for worried Irish investors by suggesting that ratings agencies are not the be-all and end-all, however.

Writing on his blog, Krugman offers a brief reminder that Moody’s and S&P – the two agencies that have downgraded Ireland’s ratings in the past weeks – gave Japanese debt a similar treatment in 2002.

Although the moves ranked Japanese debt as a riskier investment than that of Bostwana and Estonia, Japan can still borrow with less than 1% interest a full eight years later.

# ratings-agency - Tuesday 13 July, 2010

RATING’S AGENCY Moody’s has cut Portugal’s rating by two spots to A1, Reuters reports. Moody’s says their outlook is stable, meaning no further rating change is expected for at least a year, but Portugal may need to introduce more austerity measures in 2011 to keep it that way. The euro fell to a one-week low against the dollar following the news.