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junk
Brazil ETF Stung Following Petrobras Downgrade
By Todd Shriber, ETF Trends Shares of Petrobras (NYSE: PBR), Brazil’s state-controlled oil company, were off 7% Wednesday on volume that appears likely to eclipse the daily average after Moody’s Investors Service lowered its rating on Latin America’s largest publicly traded oil producer to junk. That is proving to be bad news for the iShares MSCI Brazil … Continue reading
Barclays Cuts Russian Government Bonds From Indices Following Junk Downgrade
Foreign currency debt issued by the Russian government will be cut from British bank Barclays’ global bond indices following Moody’s downgrade it to junk, Reuters reports. Exclusion from an index puts securities off limits for many asset managers and can lead to heavy selling as investors drop the stocks or bonds that have been pushed outside their … Continue reading
Moody’s Cuts Russia’s Sovereign Rating To Junk, Expects `Deep Recession’ In 2015
Moody’s Investors Service downgraded Russia’s sovereign debt rating to junk status on Friday, assigning a rating of Ba1 — from its previous rating of Baa3 — with a negative outlook. Moody’s said in a statement the reason for the downgrade to junk status was due to impaired prospects for the nation’s economy, further erosion of fiscal strength and … Continue reading
Fitch Downgrade Will Have ‘Limited’ Effect On Russia
The most recent downgrade by the Fitch rating agency that leaves Russia just one step away from ‘junk’ status won’t have a dramatic impact on the economy, Russian economists have told RT. “A Fitch downgrade will have a limited effect on the Russian economy, as the situation is already tense,”Vladimir Tikhomirov, chief economist at BCS … Continue reading
More Pain Lies Ahead For Russia As S&P Downgrade To Junk Status Seen Likely
More pain may lie ahead for Russia in the short term as the nation’s sovereign credit rating is on the horizon of being downgraded into junk territory for the first time in over a decade. On Friday, Fitch Ratings downgraded Russia’s sovereign rating to ‘BBB-‘ (from BBB) – which happens to be the lowest investment grade … Continue reading
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