Downgrade
# downgrade - Saturday 1 December, 2012
Eurozone’s new bailout fund loses AAA credit rating
The European Stability Mechanism has been downgraded by Moody’s, following a similar drop for France.
# downgrade - Saturday 3 November, 2012
Proposals to downgrade Waterford Regional Hospital to county status
Proposals outlined this week could see the hospital’s structure broken up and aligned with Cork University Hospital.
# downgrade - Tuesday 26 June, 2012
Moody’s downgrades 28 Spanish banks over debt concerns
Banks downgraded last night include one of the eurozone’s biggest – Banco Santander.
# downgrade - Thursday 14 June, 2012
The 5 at 5: Thursday
5 minutes, 5 stories, 5 o’clock.
Spanish borrowing costs hit record level
Moody’s downgraded Spanish debt to within one notch of ‘junk’ status yesterday.
Moody’s drives Cyprus towards junk status with two-notch downgrade
The credit ratings agency has said that it has placed Cyprus’ rating on review for further possible downgrade.
# downgrade - Monday 30 April, 2012
Record unemployment, rating downgrade and now Spain is back in recession
Spanish banks are now discussing creating a private entity to assume control of their toxic assets though there would be no taxpayer involvement in such a creation.
# downgrade - 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.
# downgrade - Thursday 15 March, 2012
Fitch downgrades UK outlook to negative
The nation has held onto its AAA rating but has been warned it could lose its top rating if cut-backs are eased.
# downgrade - Tuesday 28 February, 2012
S&P downgrades Greece into ‘selective default’ territory
The ratings agency demonstrates it can read, by officially acknowledging that Greece’s bond-swap is a ‘selective default’.
# downgrade - Tuesday 14 February, 2012
Interest rates plunge as Italy raises €6 billion in new auction
What downgrade? Italy flogs billions in 12-year bonds with interest rates falling dramatically on a similar bond last month.
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.
# downgrade - 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.
# downgrade - Tuesday 17 January, 2012
EU bailout fund overcomes downgrade with successful bond auction
The EFSF sells six-month bills with an average interest rate of 0.2664 per cent – despite being downgraded yesterday.
Spain raises nearly €5bn in successful short-term bond auction
Spain sees the interest rate for 12-month bonds fall significantly, while Belgium has mixed results in an auction of its own.
# downgrade - Monday 16 January, 2012
Bailout costs likely to rise after S&P downgrades EU fund
Standard & Poor’s downgrades the European Financial Stability Fund, meaning our future loans will probably cost us more.
Back with a bang: ECB bought €3.77 billion of bonds last week
After slowly winding down its programme of hoovering up eurozone debt, the ECB was called back into action in a big way.
Safe: Moody’s says it will maintain France’s AAA rating
It follows Standard & Poor’s downgrade of France and others on Friday.
Markets dip over eurozone worries after S&P downgrades
The ratings agency said it doesn’t believe European leaders are doing enough to tackle the ongoing crisis.
# downgrade - Sunday 15 January, 2012
Standard & Poor’s defends mass European downgrade
The US-based credit rating agency has defended its decision after a sharp European backlash yesterday against its move to downgrade nine EU countries.
# downgrade - Saturday 14 January, 2012
Rehn slams ‘inconsistent’ credit rating downgrade
The European Commissioner for Economic and Monetary affairs has strongly criticised yesterday’s decision by Standard & Poor’s, saying that member states had been taking “decisive action in all fronts” to stem the debt crisis.
# downgrade - 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 Daily Fix: Friday
In tonight’s fix: Downgrades for France – and difficulty for us? Plus: yet more rows over septic tanks, victory for workers at La Senza, and every presentation you’ve ever seen…
# downgrade - Thursday 29 December, 2011
Recessions, downgrades and Super Mario – 2011: the year in money
2011 may be remembered in future as the year we sorted out the financial crisis – or the year in which it grew beyond our control.
# downgrade - Monday 12 December, 2011
Second ratings agency set to downgrade EU member states
Moody’s follows the lead of Standard & Poor’s, complaining about “the absence of measures to stabilise credit markets”.
# downgrade - Friday 9 December, 2011
Three top French banks downgraded by Moody’s
The ratings agency says the ongoing euro crisis means the eurozone is a “fragile operating environment for European banks” at the moment.
# downgrade - Wednesday 19 October, 2011
Moody’s downgrades Spain’s credit rating
European leaders are feeling the pressure today as Spain becomes the latest country to experience a credit rating downgrade.
# downgrade - Friday 7 October, 2011
UK and Portuguese banks downgraded by Moody’s
Twelve banks in the UK and nine in Portugal have been downgraded after Moody’s reassessed the financial institutions’ support environment.
# downgrade - 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.
# downgrade - Tuesday 23 August, 2011
S&P boss steps down, weeks after unprecedented US downgrade
Deven Sharma, the president of Standard & Poor’s, will step down within a month after facing criticism for lowering the US’s rating.
# downgrade - Tuesday 16 August, 2011
Fitch: We’re not going to remove the US’s AAA rating
Fitch and Moody’s say they’ll be letting Standard & Poor’s go on a solo run – with two of the three agencies refusing to downgrade.
# downgrade - 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.
# downgrade - Friday 12 August, 2011
US markets watchdog investigating alleged insider trading at S&P
The Securities and Exchange Commission is reportedly asking Standard & Poor’s to account for anyone who knew about the US downgrade.
# downgrade - Monday 8 August, 2011
Dow disaster: 632-point drop is the 6th-worst in history
The Dow Jones ends its day deep in the red, as the S&P loses 6.6 per cent and the NASDAQ sheds nearly 7 per cent of its value.
Take 5: Monday
5 stories, 5 minutes, 5 o’clock.
US markets continue nosedive as investors dump shares for bonds
The US bond market responds brilliantly to the S&P downgrade, but the world’s stock markets are the obvious victims.
# downgrade - Monday 25 July, 2011
Greek debt rating cut as Moody’s warns of default
The likelihood of a Greek debt default “is virtually 100 per cent”, according to the atings agency.
# downgrade - Tuesday 5 July, 2011
Moody’s downgrades Portugal to junk
Fears of a second bailout mean the outlook on Portuguese debt isn’t so good…
# downgrade - Friday 24 June, 2011
Ratings agency gets Moody on Anglo… again
Unguaranteed bonds in Anglo and Irish Nationwide now lie eight notches below the junk threshold.
# downgrade - Tuesday 14 June, 2011
The 9 at 9: Tuesday
Nine things to know this morning, including: the funeral of the late Brian Lenihan; Greece has lowest-rated credit in the world; and what women really want…
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