The United States has taken a major hit as Fitch Ratings has lowered its Long-Term Foreign-Currency Issuer Default Rating for the country from AAA to AA+.
Brazil’s battered economy took another blow on Wednesday when Moody’s became the last of the three major credit ratings agencies to strip the country of its investment grade status.
We’ve heard a lot of talk about current accounts, GDP, CPI as well as a whole blizzard of more obscure acronyms and economic measures at the G-20 summit in Brisbane, Australia this weekend.
Standard & Poor’s recently affirmed Hong Kong’s AAA credit rating but said the firm may lower it if political tensions become bad enough to compromise the business environment.
Credit rating company Moody’s Investors Service has downgraded the ratings of six of Canada’s largest financial institutions, citing concerns about rising consumer debt and high housing prices.
Something happened on Aug. 5 last year that not many people in the world of business and finance even thought was possible. The United States went from AA+ to AAA, citing uncertainties around the debt-ceiling debate and a ballooning deficit.
Ontario, Canada’s economic heartland, is facing a lack of confidence as Moody’s and Standard & Poor’s respond to the province’s budget with downgrades.