American Banker (August 2)
“Investors were in a sour mood Wednesday after Fitch Ratings downgraded the U.S. government’s credit rating, but analysts expect the firm’s action to have little long-term impact on banks. The markets didn’t exactly shrug off the downgrade…. But the main point made by Fitch’s action — that the U.S. political system is messier than it used to be — is one that analysts say has long been obvious to investors.”
Tags: Analysts, Banks, Credit rating, Downgraded, Fitch, Impact, Investors, Markets, Messier, Political system, Sour mood, U.S. Government
Wall Street Journal (August 12)
“The rapidly-spreading coronavirus Delta variant and its impact on the global economy mean the world will consume less oil this year,” Lowering its forecast, the IEA’s latest market report notes that “the worsening of the pandemic, as well as revisions to historical data, mean its global oil demand outlook has been “appreciably downgraded,” with some of this year’s forecast recovery shifted to 2022.”
Tags: Coronavirus, Data, Delta variant, Demand, Downgraded, Forecast, Global economy, IEA, Impact, Oil, Outlook, Pandemic, Recovery, Worsening
Investment Week (October 20)
“The UK’s credit rating has been downgraded by Moody’s amid a looming economic hit from the coronavirus pandemic and the forthcoming Brexit deadline.” The UK’s sovereign debt status dropped “one notch to Aa3, from Aa2,” with the ratings agency “noting that Britain’s growth has been meaningfully weaker than expected and is likely to remain so in the future.”
Tags: Aa3, Brexit, Coronavirus, Credit rating, Deadline, Debt, Downgraded, Economic hit, Looming, Moody's, Pandemic, Sovereign, UK
New York Times (August 18)
“Brazil is in tatters. The economy is in a deepening recession.” On top of that Petrobras is facing a “massive corruption scandal” and the country’s credit rating was just downgraded by Moody’s. “In all this turbulence, it is easy to miss the good news: the fortitude of Brazil’s democratic institutions.” Specifically, “in pursuing bribery at Petrobras, federal prosecutors…have not been deterred by rank or power, dealing a blow to the entrenched culture of immunity among government and business elites.”
Tags: Brazil, Bribery, Business, Corruption, Credit rating, Democratic institutions, Downgraded, Economy, Elites, Government, Immunity, Moody's, Petrobras, Power, Prosecutors, Rank, Recession, Scandal
