Fitch Lowers Outlook for Consumer Finance Sector
Loan forbearance offers to coronavirus-hit consumers are "prudent" but lenders' credit performance could “deteriorate rapidly” once they expire.
U.S. Airlines in Strong Position to Withstand Virus
Fitch Ratings says industry consolidation and profitability should shield carriers from a temporary falloff in demand.
Credit Quality: Downgrades Pick Up Pace
As coronavirus fears disrupt the economy, CFO is tracking the weakening in corporate credit ratings and the companies under stress.
Fitch Cuts Hong Kong Credit Rating
The agency cited political unrest and growing links to the mainland as reasons for the downgrade.
Moody’s, Fitch Downgrade Boeing Credit Outlook
The ratings agencies lowered Boeing's outlook to negative due to concerns over the financial fallout from the grounding of the 737 MAX planes.
Companies Spending Less Time in Bankruptcy: Fitch
However, they are also accomplishing less, with many U.S. filers doing little more than deleveraging the balance sheet to reduce debt to a manageable level.
Fitch Lowers General Electric Credit Ratings
The rating agency says GE's return to higher margins and stronger free cash flow is going more slowly than it previously anticipated.
True Religion Files For Bankruptcy
The Vernon, Calif.-based company said it would keep its doors open while expanding its digital presence.
Staples to Go Private for Nearly $7B
The office supply chain company is seeking to pivot after its failed bid for Office Depot.
Cardinal Health Buys Medtronic Units for $6B
The deal will expand Cardinal's medical products business but its shares dropped 11.5% on updated guidance for fiscal 2017.
Auto Sales Slowdown Driving Risk for Lenders
Moody's says credit risk is rising at a time when the average dollar amount of negative equity at trade-in is at record levels.