Dark Clouds Looming for Small Shale-Oil Producers
Exploration and production companies have amassed total debt of $285 billion and their leverage metrics have increased notably, says an ABI Journal paper.
S&P Settles Suits Over MBS Ratings
The credit rating agency declined to downgrade underperforming securities because it would hurt business, said Eric Holder.
S&P Downgrades Russia’s Credit Rating to Junk
The credit rating agency cut its projection of Russia's annual economic growth to 0.5% for the next four years and called monetary policy less flexible.
Reinsurers Agree on $11B Merger
Combined, reinsurers AXIS Capital Holdings and PartnerRe will have cash and invested assets of more than $33 billion.
S&P to Pay $77M to Settle Ratings Fraud Charges
The credit ratings agency also agrees to a one-year ban from rating certain kinds of commercial mortgage-backed securities.
SEC Details Compliance Flaws at Credit Raters
All three large credit rating agencies “had weaknesses concerning access to market-share and revenue data by personnel who participate in ratings."
Wilting Demand May Hit Leveraged Loan Market
Continued outflows from mutual funds and a slowdown in CLO issuance could pose a problem for issuers in 2015.
SEC Spells Out How Rating Agencies Must Reveal Conflicts of Interest
New rule requires rating agencies to promptly gauge whether a company's current rating must be revised to eliminate a conflict of interest.
S&P May Face Civil Charges Related to CMBS Ratings
The credit rating agency's parent company, McGraw-Hill Financial, received a Wells notice from the Securities and Exchange Commission on July 22.
Two-Thirds of Leveraged Issues Lack Lender Protections
Most new leveraged loans are covenant-lite and carry ratings well-below investment grade from Standard & Poor's.
Profits and Debt Build, But Capex Drops
Nonfinancial companies pulled back on capital spending in the first quarter of 2014, producing another negative quarter for the "financing gap."