Coinbase’s guaranteed senior unsecured notes were downgraded from Ba1 to Ba2. Bonds having a rating of Ba1 or lower are termed “junk”. The company has $2 billion in senior guaranteed notes maturing in 2028 and 2031. Moody’s Investors Services lowered Coinbase’s corporate debt on Thursday evening in New York, one week after the business announced … Read more
KARACHI: Moody’s has raised concern over the political uncertainty in Pakistan, saying the no-confidence motion will affect the country’s credit rating of ‘B3 stable’ negatively. The opposition parties in Pakistan tabled a no-confidence motion in the parliament, accusing Prime Minister Imran Khan of mismanaging the economy, and claimed that the ruling coalition no longer has … Read more
WASHINGTON: Fitch on Friday cut the rating on Ukraine’s government debt to ‘CCC’ from ‘B’; following the Russian invasion of the country, which it said creates a “severe negative shock.” “The military invasion by Russia has resulted in heightened risks to Ukraine’s external and public finances, macro-financial stability and political stability,” Fitch said, noting the … Read more
WASHINGTON: The US economy ended 2021 on a sour note with a worse-than-expected employment report Friday underscoring the challenges awaiting President Joe Biden in the New Year, as the Omicron variant runs rampant and his legislative agenda stalls. The world’s largest economy gained only 199,000 jobs in the final month of the year, the Labour … Read more
RIYADH: As the demand slightly outstrips supply, Moody’s Investors Service has changed the outlook for the global shipping industry to stable from positive for the next 12 to 18 months, Arab News reported. A report issued on Monday said the change is driven by tough comparisons with the very strong cash flows generated this year rather than … Read more
RIYADH: US Moody’s Investors Service has changed its outlook for Global Energy to stable from positive, based on its expectation that the pace of improvement in fundamental conditions across the industry will ease over the next 12-18 months, Arab News quoted a statement, as saying. Moody’s stable global outlook stems from the earnings directions for … Read more
LIMASSOL: Moody’s Investors Service affirmed the long-term deposit ratings of the nine banks it rates in Saudi Arabia, as well as the senior unsecured and subordinated debt ratings of their affiliated entities, where applicable, Arab News quoted the rating agency, as saying, in a statement. At the same time, Moody’s changed the outlook on the long-term deposit … Read more
RIYADH: Ratings firm Moody’s has affirmed the Baa2 ratings of state-owned Dubai Electricity and Water Authority and revised its outlook to stable from negative, Arab News reported. “The rating action reflects the credit linkages between DEWA and the government of Dubai. Supportive oil prices and improved prospects for a sustained economic recovery will strengthen the operating environment … Read more
LONDON: Saudi Arabia’s spending plan as announced in its pre-budget statement is a positive development for the credit rating of the kingdom, Arab News quoted rating agency Moody’s, as saying. “The 2022 pre-budget statement confirmed the government’s plans for further spending cuts during 2022-23, in line with the previously published Fiscal Balance Programme. This is credit positive … Read more
Pakistani banks are facing a slow economic recovery. The economic growth rate will be 1.5% this financial year. Moody’s Research has released a report on Pakistani banks and said that the scenario of abundant funding and liquidity banks is stabilizing, challenging, better operating environment will affect the assets and profits of banks. Moody’s Research report … Read more
Moody’s has maintained the UAE’s credit rating of AA2, the highest sovereign rating in the region with a stable outlook for the national economy. Moody’s announced in September that it would downgrade Kuwait’s credit rating from AA2 to A1. The Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid … Read more
American business and financial services Moody’s has stated that On March 26th, State Bank of Pakistan (SBP), the country’s central bank, cut its policy rate 150 basis points to 11%, reduced banks’ capital conservation buffers (CCB) 100 basis points to 1.5%, relaxed terms for new and existing loans and announced other forbearance measures to increase … Read more
Pakistan growth rate projected with a low of 2.5 percent for the current fiscal year owing to Covid 19. Moody’s investor service in latest regional credit outlook reported low Pakistan growth rate. However it said risks for the entire Asia-Pacific (APAC) region were generally on the downside. In December 2019, the New York-based rating agency … Read more
US Official Alice Wells has appreciated improvement in Pakistan’s outlook by credit rating agency Moody’s. Alice Wells serves as Principal Deputy Assistant Secretary for South and Central Asian Affairs On Wednesday, US State Department on behalf of Alice Wells said in a tweet: Pleased to see that @MoodysInvSvc has revised Pakistan’s credit outlook to stable … Read more
Singapore, December 02, 2019 — Moody’s Investors Service (“Moody’s”) has today affirmed the Government of Pakistan’s local and foreign currency long-term issuer and senior unsecured debt ratings at B3 and changed the outlook to stable from negative. The change in outlook to stable is driven by Moody’s expectations that the balance of payments dynamics will … Read more
