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A day after Moody’s Investors Service announced it was putting Ireland under review for a possible downgrade, Fitch Ratings lowered the country’s credit grade to A+ from AA-. Fitch’s downgrade was prompted by the Irish government’s announcement last week that it’s pledging more money — as much as €50 billion — to save Ireland’s banks. The downgrade was further fueled by uncertainty over the…

Continue reading Fitch Downgrades Ireland

Fitch Downgrades Ireland originally appeared on DailyFinance on Wed, 06 Oct 2010 10:20:00.

Filed Under: Economy, Credit

Less than a week after downgrading Spain’s credit rating, Moody’s Investors Service warned it might cut Ireland’s credit rating as well. Moody’s said its decision to review Ireland’s rating was prompted by the government’s announcement last week that it was pledging more money — as much as €50 billion — to save the country’s banks, as well as the weak economic recovery and rising borrowing…

Continue reading Moody’s Warns It May Cut Ireland’s Credit Rating

Moody’s Warns It May Cut Ireland’s Credit Rating originally appeared on DailyFinance on Tue, 05 Oct 2010 07:10:00.

Filed Under: Economy

The mortgage-backed securities meltdown whose effects still haunt our economy sprang from a simple cause: The rules of the game gave big incentives to every player involved to ignore the problems and keep collecting their fees. And despite financial reform, those rules haven’t changed much.

Continue reading Misplaced Incentives Were the Rot at the Core of the Financial Crisis

Misplaced Incentives Were the Rot at the Core of the Financial Crisis originally appeared on DailyFinance on Mon, 27 Sep 2010 09:20:00.

Filed Under: Economy, Investing, Goldman Sachs , Citigroup, Real Estate

The government of British Prime Minister David Cameron won a key vote of confidence from the financial community Monday when Moody’s Investors Services announced that it would continue to apply a AAA rating to the country’s debt, despite its severe economic dislocation.

Continue reading Britain Keeps Moody’s AAA Rating Thanks to Austerity Moves

Britain Keeps Moody’s AAA Rating Thanks to Austerity Moves originally appeared on DailyFinance on Mon, 20 Sep 2010 13:45:00.

Filed Under: Economy, Investing, Taxes

The U.K.’s triple-A credit rating is safe, thanks to the government’s austerity measures and a flexible economy, rating agency Moody’s said. The rating agency said the government’s deficit-reduction measures, continued economic growth and the long maturity profile of the country’s debt all support the credit rating, Reuters reported.

Britain’s economy faces obstacles including…

Continue reading Moodys: U.K. Credit Rating Is Safe

Moodys: U.K. Credit Rating Is Safe originally appeared on DailyFinance on Mon, 20 Sep 2010 08:26:00.

Filed Under: Economy, Investing, Credit