This paper highlights credit actions taken by Fitch Ratings in the non mortgage term asset-backed securities ABS market. Overall, stabilizing economic fundamentals continued to exert a positive influence on rating activity and collateral performance in September. With no downgrades to report for the month, upgrades in the third quarter outpaced...
The paper assess the impact of credit ratings on the pricing of structured financial products, using a sample of more than 1300 changes in Moody's or Standard and Poor's (S&P) ratings of U.S. asset-backed securities ABS. The study finds that rating downgrades tend to be accompanied by negative returns and...
The report has revised its Rating Outlook for the U.S. private mortgage insurance industry to Negative from Stable. Generally, the report defines a negative industry outlook as the expectation that rating downgrades will exceed upgrades during a 12-18 month time frame and that the number of downgrades are expected to...
Article talks about the comparison of the lending behavior of banks experiencing a CRA downgrade to the lending behavior of several thousand banks that do not experience a downgrade. It is hypothesize that banks would respond to regulatory and public pressure exerted as a result of the downgrade by...
This paper analyzes premium growth surrounding ratings changes for a large panel of property-liability insurers. Consistent with substantial market discipline for rated insurers, univariate comparisons and fixed effects regressions generally provide evidence of significantly lower revenue growth for insurers that experienced rating downgrades in the year of and the year...
CHICAGO & NEW YORK -- Fitch has downgraded the Issuer Default Rating IDR of Bank of America N.A. BANA and Bank of America Corporation (NYSE: BAC) to `AA-' and `A+' respectively. Fitch affirms the short-term IDRs of both companies at 'F1+'. All ratings have been removed from Rating Watch Negative....
CHICAGO -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: McGraw-Hill Companies, Inc. (NYSE: MHP), Tractor Supply Co. (Nasdaq: TSCO), Regis...
PARIS AFP — Pluto -- downgraded two years ago to the status of a dwarf planet -- has an exotically-named chum on the fringes of the Solar System. The Paris-based International Astronomical Union IAU has decided to honour a Kuiper Belt object, 2005 FY9, with the name of...
TOKYO, July 15, 2008 AFP — Japan's central bank on Tuesday left its super-low interest rates unchanged as it cut its growth forecasts for Asia's largest economy for the second time in less than three months. The policy board decided unanimously to leave interest rates at 0.5 percent,...
AIRLINE INDUSTRY INFORMATION-C1997-2008 M2 COMMUNICATIONS LTD Ratings agency Fitch Ratings has revised downward its outlook for the aircraft lease securitisations sector. The company said that its asset performance outlook for aircraft securitisations has been changed to 'declining', and the rating outlook for the sector is now...
OLDWICK, N.J. -- A.M. Best Co. has downgraded the bank deposit rating BDR to "bbb+" from "a-"and issuer credit rating ICR to "bbb+" from "a-" of Fidelity Bank of Florida, National Association FBF (Merritt Island, FL). The outlook for the ratings has been revised to negative from stable. ...
CHICAGO -- The following is the comprehensive list of Fitch Rating's 100 Latin America national scale rating changes for the month of June, which include: upgrades, downgrades, Outlook revisions, Watch changes and withdrawn ratings. These rating changes were previously announced via separate press releases in Spanish or Portuguese. ...
CHICAGO, July 15 /PRNewswire-FirstCall/ -- Seven Summits Research releases NewsBites on key stocks. Seven Summits Strategic Investments NewsBites are available to all investors at: http://www.go7now.com/nb/0715Y (Note: You may have to copy this link into your browser then press the [ENTER] key.) Today's Seven...
NEW YORK -- Fitch Ratings has downgraded to 'BB-' from 'BB+' the rating on $74,510,000 Kentucky Economic Development Finance Authority refunding and improvement revenue bonds (Appalachian Regional Healthcare, Inc.), series 1997. The Rating Outlook is Stable. The downgrade to 'BB-' reflects the effect of two strikes at Appalachian...
NEW YORK -- Fitch Ratings has downgraded and removed from Rating Watch Negative the sole class of notes issued by Cloverie Plc 2006-3 (Cloverie 2006-3). The following rating action is effective immediately: --$40,000,000 class D notes to 'CC' from 'B-'. Fitch originally place Cloverie 2006-3 on...
NEW YORK -- Fitch Ratings has downgraded and subsequently withdrawn the following ratings on Option One Mortgage Corporation's Option One residential servicer ratings: --Residential primary servicer rating for subprime product to 'RPS3' from 'RPS2+'; --Residential special servicer rating to 'RSS3' from 'RSS2+'. In addition,...
OLDWICK, N.J. -- A.M. Best Co. has downgraded the issuer credit ratings ICR to "bb-" from "bb" of Kingsway Financial Services Inc. KFSI (Mississauga, Ontario) and Kingsway America Inc. KAI (Elk Grove Village, IL). Concurrently, A.M. Best has downgraded the financial strength ratings FSR to B+ Good from...
NEW YORK -- Fitch Ratings has downgraded and removed from Rating Watch Negative the sole class of notes issued by Cloverie Plc 2005-81 (Cloverie 2005-81). The following rating action is effective immediately: --$15,000,000 class B notes to 'CC' from 'BB+'. Fitch originally placed Cloverie 2005-81 on...
NEW YORK -- Fitch Ratings has downgraded and removed from Rating Watch Negative the sole class of notes issued by Cloverie Plc 2006-1 (Cloverie 2006-1). The following rating action is effective immediately: -- $10,000,000 class A notes downgraded to 'CCC' from 'BBB-'. Fitch originally placed Cloverie...
NEW YORK -- Fitch Ratings has downgraded and removed from Rating Watch Negative the sole class of notes issued by Cloverie Plc 2005-79 (Cloverie 2005-79). The following rating action is effective immediately: --$15,000,000 class S-4 notes to 'CC' from 'BBB'. Fitch originally placed Cloverie 2005-79 on...
Articles 2008-07-14
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