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Credit Downgrade

Governor's Budget Projections Mean Huge Cuts for Kids

Emily J. Miller | Posted 03.11.2014 | Chicago
Emily J. Miller

While Illinoisians rang in the New Year with family and friends, a little-noticed new forecast released by the Governor's Office of Management and Budget (GOMB) on the first of the year leaves no room for celebration.

Hey, Remember That Time Standard & Poor's Downgraded The Whole Country?

AP | PAUL WISEMAN | Posted 10.05.2012 | Business

WASHINGTON (AP) — The rating agency Standard & Poor's stunned the world a year ago by stripping the U.S. government of its prized AAA bond ratin...

Japan Downgraded

Reuters | Posted 07.22.2012 | Business

* Yen weakens after Fitch downgrade, move seen brief * Fitch warns further downgrades possible * Says Japan's debt plan ...

MF Global To S&P Before Collapse: We've 'Never Been Stronger'

Reuters | Posted 03.31.2012 | Business

* S&P says MF Global touted capital, liquidity strength * One week after email to S&P, MF Global failed * House lawmaker...

The Euro Elephant in the German Living Room

David Miles | Posted 03.19.2012 | World
David Miles

Chancellor Merkel and her policymakers have been acting on the basis that Greece is an isolated case. Yet every reactive decision and feeble measure by Berlin increases the likelihood of a Greek tragedy becoming a Europe-wide one.

Downgrading the Big Three

Jeff Greene | Posted 03.14.2012 | Business
Jeff Greene

Standard and Poor's, Moody's, and Fitch -- also known as The Big Three -- lost much of their credibility as they failed to act as reliable brokers of information and played a big part in creating the economic crisis that began in 2007. In effect, the market has downgraded them.

What Does a France Downgrade Mean for Europe?

Elena Panaritis | Posted 03.14.2012 | Business
Elena Panaritis

We need to prove that the European Union is made of countries with a flexible yet robust productive base capable to innovate, attract new ideas and boost entrepreneurship.

ECB Action Not Enough Save European Banks From S&P Downgrade Threat

Posted 12.23.2011 | Business

The half a trillion euros the European Central Bank pumped into the financial system buys hard-hit banks valuable time but will not in itself prot...

Hungary's Credit Rating Downgraded To Junk By S&P

AP | The Associated Press | Posted 02.20.2012 | Business

Standard & Poor's Ratings Services on Wednesday downgraded Hungary's credit rating to "junk" level because of worries about proposed policy changes re...

Catherine New

Banks Face Crisis Of Confidence, As Europe Falls Further

HuffingtonPost.com | Catherine New | Posted 12.15.2011 | Business

The crisis in Europe showed no sign of letting up on Wednesday, and analysts and observers warned of the potential for a sharp financial downturn over...

S&P Downgrades Big Banks

AP | EILEEN AJ CONNELLY | Posted 01.29.2012 | Business

NEW YORK — Standard & Poor's Ratings Services has lowered its credit ratings for many of the world's largest financial institutions, including t...

Downgrade Possibility Not Scaring U.S. Lawmakers

Posted 12.28.2011 | Business

A growing number of lawmakers do not think another downgrade of the country's AAA rating will harm America's economy, raising questions about how ...

U.S. May Suffer Another Credit Downgrade By Year's End: Merrill

Posted 12.24.2011 | Business

The United States will likely suffer the loss of its triple-A credit rating from another major rating agency by the end of this year due to concer...

Moody's Downgrades Credit Rating Of A Dozen UK Banks

AP | By ROBERT BARR | Posted 12.07.2011 | Business

LONDON -- A dozen British banks saw their credit ratings downgraded Friday over doubts over the strength of the government's support, in another sign ...

Wall Street Ends Worst Quarter Since Depths Of 2008 Crisis

Posted 12.01.2011 | Business

NEW YORK (Edward Krudy) - Stocks ended their worst quarter since the depths of the 2008 credit crisis, crippled by Europe's debt debacle, a U.S. c...

Moody's Downgrades BofA's Debt Rating

Posted 11.21.2011 | Business

Moody's Corp on Wednesday cut the debt ratings of Bank of America Corp, Wells Fargo & Co and Citigroup Inc, three of the largest U.S. banks, on w...

What Next For Greece And Europe?

New York Times | PETER BOONE and SIMON JOHNSON | Posted 11.15.2011 | Business

Uncertainty about potential loan losses in Europe continues to roil markets around the world. For many investors, taxpayers and ordinary people there ...

Amanda Terkel

Dick Cheney On U.S. Credit Downgrade: 'I Literally Felt Embarrassed For My Country'

HuffingtonPost.com | Amanda Terkel | Posted 11.14.2011 | Politics

WASHINGTON -- Former Vice President Dick Cheney was "embarrassed" when the U.S. credit rating was downgraded in August, and he hopes that the developm...

Greek Crisis Hits France: Moody's Downgrades SocGen, Credit Agricole

AP | By SARAH DiLORENZO | Posted 11.14.2011 | Business

PARIS -- Moody's downgraded the credit ratings of French banks Societe Generale and Credit Agricole on Wednesday following a period of huge volatility...

Prominent Agency Keeps U.S. At Highest Credit Rating

AP | MARTIN CRUTSINGER and CHRISTINA REXRODE | Posted 10.16.2011 | Business

WASHINGTON — Fitch Ratings said Tuesday that it would keep its rating on long-term U.S. debt at the highest grade, AAA, and said the outlook rem...

Credit Rating Agencies Not The Best At Predicting Sovereign Defaults

The Huffington Post | Alexander Eichler | Posted 10.12.2011 | Business

Markets plunged this week after Standard & Poor’s downgraded the United States’ sovereign credit rating. But if history is any guide, the pronounc...

The Credit Downgrade: Fewer Splurges, More Stress For Couples

YourTango | Posted 10.11.2011 | Women

The United States has faced its fair share of economic turmoil in recent years, but we often rely on our nation's reputation of world leadership and l...

The Credit Downgrade and the Congress: Why Polarized Politics Paralyze Public Policy

Robert Stavins | Posted 10.11.2011 | Politics
Robert Stavins

No matter how one feels about the wisdom of Standard & Poor's downgrading of long-term U.S. debt, the issue of greater concern should be their assessment of the state of the U.S. body politic.

Financial Crisis: For the GOP, It's All So E-Z

Rick Horowitz | Posted 10.11.2011 | Comedy
Rick Horowitz

Republican National Committee (RNC) Chairman Reince Priebus has released the following statement concerning the continuing and dangerous deterioration of the U.S. economy.

Nonprofit Hospitals Running Out Of Cash, Face Downgrades: Moody's

The Huffington Post | Alexander Eichler | Posted 10.10.2011 | Business

A dwindling number of patients, combined with oncoming Medicare and Medicaid cuts, are making more likely the prospect of nonprofit hospitals being is...