The largest U.S. banks may need to pay out up to an additional $105 billion to settle legacy mortgage-related issues, but have a capital cushion that would help them absorb these losses, according to a report by ratings agency Standard …
Credit ratings organisations from five countries are launching a new global agency, touting it as an alternative to the Big Three agencies which they say no longer meet the needs of the new globalised world. In a statement on Tuesday, …
Ratings analysts at Standard & Poor’s say that a Dodd-Frank provision having to do with derivatives could improve insurers’ risk management and have a minor impact on ratings. In response to the financial crisis of 2008, Congress passed the Dodd-Frank …
A recent report, “Reinsurance Industry Leaders Discuss Lessons Learned From Hurricane Sandy,” published Nov. 29, 2012, on RatingsDirect, Standard & Poor’s Ratings Services, notes that “reinsurers had three very good quarters until Superstorm Sandy hit the U.S. East Coast on …
Standard & Poor’s will change the way it assigns global ratings to insurers, in part to increase the consideration of country risk in the way a company is evaluated, the credit ratings agency said on Thursday. The changes will apply …
Spain’s sickly economy faces a “crisis of huge proportions”, a minister said on Friday, as unemployment hit its highest level in two decades and Standard and Poor’s weighed in with a two-notch downgrade of the government’s debt. Spain’s unemployment rate …
Standard & Poor’s cut India’s credit rating outlook on Wednesday to negative from stable, reflecting the toll that hefty fiscal and current account deficits and political paralysis are exacting on Asia’s third-largest economy. The negative outlook jeopardizes India’s long-term rating …
Standard & Poor’s revised its outlook on Argentina’s sovereign debt rating to negative from stable on Monday, citing policies that include a government push to seize control of energy company YPF from Spain’s Repsol. President Cristina Fernandez announced the YPF …
In response to Hartford Financial Services Group Inc.’s planned exit from some of its life insurance business, Standard & Poor’s Rating Services said it is downgrading the subsidiaries previously aggregated under Hartford Life, and assigning individual ratings and outlooks to …
Standard & Poor’s Ratings Services has followed up on its analysis of its ratings for Bermuda-based Ariel Reinsurance Co. Ltd. following the announcement that it is selling its Bermuda-based business to Arrow, a unit of Goldman Sachs, and its credit …
