Manipulate Cash Flow to Boost Credit Ratings?
The role of credit-rating agencies in determining interest costs on bank loans leaves much to be desired, a study finds.
Moody’s Fined $16M Over Rating Deficiencies
The SEC says Moody's failed to ensure the accuracy of statistical models and apply rating symbols consistently.
Moody’s Names MassMutual’s Kaye as CFO
Mark Kaye "has an impressive record of success as a financial steward and senior executive at leading financial services companies," Moody's CEO says.
Ratings Analyst Accused of Insider Trading
The SEC says two friends of the analyst made nearly $300,000 in illicit profits on tips he gave them about a client's impending acquisition.
Will Ratings Agency Downgrades Haunt Connecticut?
'Connecticut has less flexibility to meet unanticipated revenue shortfalls,' said Standard & Poor's.
Gap’s Credit Rating Downgraded to Junk
Fitch Ratings expresses doubts about Gap's cost-cutting strategy, saying earnings will fall this year even with $100 million in expense reduction.
Fitch Downgrades Staples to Junk on Weak Sales
As a standalone company, Staples has "limited ability to reverse declines in sales and EBITDA over the forecast horizon," Fitch warns.
Junk Bond Defaults Seen Rising Again in 2016
The credit ratings agency forecast that the junk default rate will be 4% this year, up from 3.5% in 2015.
DuPont Layoffs Dent Delaware’s Credit Outlook
Moody's says the job cuts will reduce DuPont's Delaware workforce by a “significant” 24% and are a credit negative for the Wilmington area.
Banks With Weak Cybersecurity Could Be Downgraded: S&P
Given banks' function as key nodes in the global financial system, S&P views banks as "natural targets facing a high threat of cyber-risk."
Robust M&A Activity Seen Continuing
Acquisitions and combinations will continue to be attractive to companies as low interest rates make financing inexpensive.