Moody’s Pushes Turkey Debt Rating Down to B2
"As the risks to Turkey's credit profile increase, the country's institutions appear to be unwilling or unable to effectively address these challenges."
S&P Downgrades Guitar Center Rating to CCC-
The rating agency says Guitar Center bondholders could receive less than par in a restructuring, which would amount to a "selective default."
S&P Downgrades Toshiba Debt Ratings Again
The credit rating agency warns of "a growing likelihood that Toshiba will become unable to fulfill its financial obligations in a timely manner."
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.
Moody’s Downgrades Brazil’s Debt to Junk
The downgrade brings Moody's in line with other rating agencies concerned about Brazil's creditworthiness amid its worst recession in decades.
Junk-Rated Loans Could Incur Big Losses: OCC Comptroller
Should the economy come under stress, a large number of leveraged loans could default and cause record losses, according to one banking regulator.