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Credit Rating Downgrade

'Even Germany's Resilience Is Not Unlimited'

Reuters | Posted 09.23.2012 | Business

By Madeline Chambers BERLIN, July 24 (Reuters) - The prospect of Europe's biggest economy losing its cherished AAA credit status has u...

Moody's Downgrades Belgium's Credit Rating

Posted 12.16.2011 | Business

Moody's on Friday cut Belgium's credit ratings by two notches, saying "fragile sentiment" in the euro zone may cause funding stress for countries ...

Cyprus' Government Workers Protest Pay Freeze

AP | By MENELAOS HADJICOSTIS | Posted 12.13.2011 | Business

NICOSIA, Cyprus -- Thousands of Cyprus government workers held a three-hour strike Tuesday to protest a proposed two-year salary freeze they regard is...

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...

A Corrupt S&P Uses Shock Doctrine to Help Push Wall Street's Conservative Political Agenda

Miles Mogulescu | Posted 10.08.2011 | Politics
Miles Mogulescu

S&P's opinion on debt ratings should have almost no credibility. S&P is the same private profit-making corporation that was paid tens of millions of dollars by Wall Street banks to rate its toxic subprime mortgages and derivatives, giving them phony AAA ratings.

Police Raid Milan Offices Of Moody's And S&P

The Guardian | Posted 10.07.2011 | Business

As stock and bond markets across the world tumbled on fears about Italy and Spain, it emerged that police acting on orders from prosecutors had raided...

S.&P. Warns More Downgrades May Come

The New York Times | By NELSON D. SCHWARTZ and ERIC DASH | Posted 10.06.2011 | Business

A day after Standard & Poor’s took the unprecedented step of downgrading the creditworthiness of the United States government, the ratings agency of...

How to Think About Standard and Poor's Downgrade

Dean Baker | Posted 10.06.2011 | Business
Dean Baker

Standard and Poor's downgrade of U.S. government debt captured headlines across the country and around the world. It is a newsworthy event, but primarily as another colossal failure by a major credit rating agency.