EMerging Equity
Fitch
Brazil’s Credit Rating Cut To Junk Status By Standard & Poor’s
“US rating agency Standard & Poor’s downgraded Brazil’s credit rating to junk status on Wednesday, pointing to political turmoil in the country and the government’s failure to pull the economy out of recession,” RT reports. According to the news provider: … the rating agency warned about a possible downgrade less than two months ago, the move … Continue reading
Brazil Must Do More To Maintain Its Investment-Grade Rating If It Wants To Attract Foreign Capital, BlackRock Says
“The world’s biggest money manager said Brazil must do all that it takes to maintain its investment-grade credit rating if it wants to remain an attractive destination for foreign capital,” Bloomberg reports. Although BlackRock claims it wants to promote Brazil, most of its clients refuse to allocate towards this destination as the country remains at … Continue reading
Brazil Prepares For Mass Demonstrations On Sunday As Allegations Of Corruption Swamp Rousseff Government
“Brazil President Dilma Rousseff is poised to face another key test as allegations of corruption and incompetence swamp her government, and plummeting commodity prices sap the country’s economy,” Seeking Alpha reports. According to Bloomberg: As allegations of corruption and incompetence swamp Brazil’s government, and plummeting commodity prices sap its economy, hundreds of thousands of angry … Continue reading
Brazil’s Credit Rating Just Above Junk Status After Moody’s Downgrade
Moody’s rating agency, yesterday on August 11th, downgraded Brazil’s government bond rating to Baa3 from Baa2 (only one notch above a non-investment / speculative grade). Also the outlook on the rating has been changed from negative to stable. According to Bloomberg: The company’s decision to assign a stable outlook to Brazil’s rating, now at the lowest level … Continue reading
Russia To Launch A Rating Agency By Year End
Russia is planning to launch a rating agency by the end of this year. The Central Bank of Russia (CBR) reported, the initial capital would be around $52 million. The CBR said today in a statement the following: … credit rating agencies are one of the most important elements of the financial market infrastructure. Their activities … Continue reading
Crisis In Athens Enters New Chapter As Greece Becomes First Developed Nation To Default On Debt
Greece has become the first developed nation to default of its international debt obligations as the International Monetary Fund (IMF) confirmed on Tuesday night that it did not receive the €1.55 billion ($1.73 billion) payment from Athens that was due by the end of June 30, Brussels time. The Crisis in Greece has entered a new chapter … Continue reading
Emerging Market Corporate Bonds Face Increased Volatility, Liquidity Squeeze, Fitch Warns
Emerging market (EM) corporate bonds have been dealing with a surging U.S. dollar, a collapse in global energy prices, and a likely hike in U.S. interest rates, which are underscoring growing liquidity risks, according to a new report from Fitch Ratings published on Thursday. The rapid appreciation of the U.S. dollar, potential hikes in U.S. interest rates later in 2015 and the … Continue reading
Fitch Downgrades Russia’s Credit Rating To 1 Notch Over Junk Level
The international ratings agency has knocked Russia’s credit rating down a peg, while warning that ‘growth may not return until 2017,’ as the national economy struggles amid sanctions and tumbling oil prices. Fitch Ratings Inc, with dual headquarters in New York and London, downgraded Russia’s credit rating to BBB- from BBB, which is just one … Continue reading
Russia ETF Falls In After-Hours Trade On Fitch Downgrade
By Tom Lydon The Market Vectors Russia ETF (NYSEArca: RSX) lost about three-quarters of a percent early in Friday’s after-hours session after Fitch Ratings lowered Russia’s sovereign credit rating to BBB-, the lowest investment grade, with a negative outlook. Fitch previously rated Russian sovereign debt BBB. “‘BBB’ ratings indicate that expectations of default risk are … Continue reading
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