Standard & Poor's

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Justice Filing Suit Against S&P Over 2008 Meltdown

Feds will accuse firm of fraudulently rating mortgage bonds

(Newser) - The Justice Department and state prosecutors are filing a lawsuit against the Standard & Poor's Ratings Service for its apparent role in the 2008 financial meltdown, the New York Times reports. The civil suit will accuse S&P of rating mortgage bonds too highly before their value fell off...

S&amp;P Downgrades Spanish Debt
 S&P Downgrades 
 Spanish Debt 
Oct 11, 2012 8:15 AM CDT

S&P Downgrades Spanish Debt

Nears junk status amid bailout debate

(Newser) - The Spanish government's dilemma over whether to request a European bailout has become more acute following a downgrade of the cash-strapped country's credit rating. Standard & Poor's late yesterday cut its rating on Spain's debt by two notches to BBB-, just a step above junk status,...

Dow Plummets 200+ Points
 Dow Plummets 200+ Points 
Jun 1, 2012 10:07 AM CDT

Dow Plummets 200+ Points

Weak jobs report leads to market troubles

(Newser) - The Dow's gain for the year is gone, thanks to today's terrible jobs report . The Dow fell more than 200 points following the report, according to the AP . At 11am EDT, it was at 12,170, down 224 points. That's a loss of about 0.3% for...

S&P: We'll Likely Declare Greece in Default

As Greece struggles to restructure debt

(Newser) - Standard & Poor's will likely downgrade Greece's rating to "selective default" after its debt restructuring, the rating agency said at a Bloomberg event today—though it adds that the move might not destroy the European Union's credit. "It's not a given that Greece's...

S&P Downgrades Eurozone Bailout Fund

Says it could return it to AAA if sacrifices are made

(Newser) - Rating agency Standard & Poor's says it has downgraded the creditworthiness of the eurozone's bailout fund by one notch to AA+. The downgrade, which follows ratings cuts for AAA-rated France and Austria , could hurt the European Financial Stability Facility's ability to raise cheap bailout money.

S&P Downgrades France, Italy, 7 Others

Paris and Austria lose AAA status

(Newser) - Standard & Poor's has downgraded the government debt of France, Austria, Italy, and Spain by one notch, but maintained Germany's at the coveted 'AAA' level. The cuts, which eliminated France and Austria's triple-A status, deal a heavy blow to the currency union's ability to fight...

Moody's Scoffs at Europe Deal, Threatens Downgrades

Warning stems from concerns over widening growth gap

(Newser) - Despite the deal reached by European leaders to strengthen the euro zone, Moody's warned today that the crisis is still at a "critical and volatile stage" and that some European Union countries could still find their sovereign ratings downgraded. It expressed specific concern about the expanding growth gap...

S&P Downgrades Credit Ratings of Top US Banks

Standard & Poor's applies new criteria to banks around the world

(Newser) - Standard & Poor's is adjusting the ratings on 37 of the world's largest financial institutions, and that means downgrades for the biggest banks in the US. Bank of America and its main subsidiaries were among those cut at least one notch today, along with Citigroup, Goldman Sachs, JPMorgan...

Now France Rating May Be Cut
Now France's Rating
May Be Cut
Nov 29, 2011 2:30 AM CST

Now France's Rating May Be Cut

S&P may switch outlook on Triple-A rating to negative

(Newser) - Is there no nation with sound credit? Standard & Poor's is now considering changing the outlook for France's triple-A rating to negative within the next 10 days, signaling a possible downgrade, the French financial newspaper La Tribune reported yesterday. France is the last cushion between crumbling European economies...

S&P Lowers Belgium's Credit Rating

Cites 'protracted political uncertainty'

(Newser) - Standard & Poor's is lowering its long-term sovereign credit rating for Belgium, citing a threat to exports and the country's lack of a permanent government. In a sign that financial contagion is spreading across Europe, the agency cut Belgium's credit rating from AA+ to AA. Belgium has...

S&amp;P Downgrades Spain
 S&P Downgrades Spain 
Oct 14, 2011 3:31 AM CDT

S&P Downgrades Spain

Long-term debt rating hits AA-

(Newser) - Standard & Poor's yesterday downgraded its long-term debt rating on Spain to "AA-" from "AA," citing the country's weak growth prospects and risks facing its banks. The Spanish economy is burdened by high unemployment, tight credit, heavy private-sector debt loads, and prospects that its main...

SEC Sees 'Apparent Failures' at Ratings Agencies

But new report doesn't offer specifics about the companies

(Newser) - The SEC wagged its finger at the ratings agency industry today, accusing each of the 10 registered companies of "apparent failures" in key areas, including how they manage conflicts of interest, reports Reuters . Alas, those looking for specifics against the likes of Moody's, Fitch, and Standard & Poor'...

S&amp;P Downgrades Italy

 S&P Downgrades Italy 
Sep 19, 2011 8:21 PM CDT

S&P Downgrades Italy

Euro falls on the news

(Newser) - The US isn’t singing the downgrade blues alone; S&P knocked Italy down a peg today, citing concerns about its economic growth and its fragile governing coalition. The agency slashed Italy’s rating to “A,” or five ranks above junk status, and maintained its negative outlook, according...

Japan&#39;s Credit Rating Cut
 Japan's Credit Rating Cut 
Aug 24, 2011 5:05 AM CDT

Japan's Credit Rating Cut

Moody's drops country to fourth-highest rating

(Newser) - Japan has joined the US on the list of countries to have its credit rating downgraded because of debt worries. But for the Japanese, the downgrade is just the latest in a long series of bad news. Moody's has cut Japan's rating by a notch to the fourth...

Markets: Dow, S&P 500, Nasdaq Down at Open
 Dow Down 100 at Open 
MARKETS
Aug 19, 2011 8:39 AM CDT

Dow Down 100 at Open

S&P 500, Nasdaq follow suit

(Newser) - No major relief for the markets today, at least not so far: The Dow was down about 100 points at open, resting below 10,900, according to MarketWatch . The S&P 500 and Nasdaq were also down, 7 points and 5 points, respectively. And the news from abroad isn't...

Markets: Dow, S&P, Nasdaq Down at Open
 Dow Plunges 480+, Below 11K 
UPDATED
Aug 18, 2011 9:19 AM CDT

Dow Plunges 480+, Below 11K

S&P, Nasdaq follow suit

(Newser) - The Dow plunged more than 300 points at the open today, and dropped almost 500 before retreating, as investors worried about Europe and the global economy. It's currently hovering just below 11,000, according to Marketwatch . The S&P 500 also dropped 48 points to 1,146, while the...

Feds Probing Standard and Poor's

Agency's behavior before financial crisis in spotlight

(Newser) - Looks like Standard & Poor's could be in for a downgrade of its own—from the Justice Department. Federal investigators are probing possible wrongdoing at the credit ratings agency in the years leading up to the financial crisis, sources tell the New York Times . The probe, expected to lead...

Fitch Reaffirms AAA Rating
 Fitch Reaffirms AAA Rating 
Aug 16, 2011 9:01 AM CDT

Fitch Reaffirms AAA Rating

Also says outlook on US ratings is stable

(Newser) - Take that, Standard & Poor's: Fitch Ratings says it will keep its rating on US debt at the highest grade, AAA, and says its outlook on the US ratings is stable. Fitch cited the United States' "flexible, diversified, and wealthy economy," as well as its flexibility in...

SEC Probing S&amp;P Downgrade
 SEC Probing S&P Downgrade 
Aug 12, 2011 9:38 AM CDT

SEC Probing S&P Downgrade

But analysts say proving insider trading violations would be difficult

(Newser) - The SEC wants to know who knew about S&P's decision to downgrade the United States credit rating before it happened, as part of a very initial look at whether insider trading violations occurred, reports the Financial Times . Those involved in the case say the investigation isn't based...

Dow Rises 100+ on Retail Sales Report

S&P 500, Nasdaq also rise

(Newser) - Markets are up, at least for now: The Dow was up more than 100 points at open, with the S&P 500 and Nasdaq following suit, up about 11 and 13 points, respectively, MarketWatch reports. An upbeat report on retail sales no doubt prodded stocks upward: July sales rose a...

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