Greece's debt crisis may end up helping Europe in the long run if it pressures governments to start addressing the potentially colossal costs of pensions and healthcare in coming decades. In the boom years of the past decade, racy rates of economic growth and ultra-cheap credit gave governments less incentive to prepare for a looming
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Dearer oil raised inflation rates throughout the developed world in January, when British consumer price growth of 3.5 percent far outstripped rises in the United States and other rich countries, the OECD said on Tuesday. A 10.6 percent rise in energy prices lifted the year-on-year rate of inflation to 2.1 percent from 1.9 percent in
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The number of foreign firms bought by British companies fell to a record low in the fourth quarter of last year while foreign takeovers of British firms rose, official data showed on Tuesday. The Office for National Statistics said spending by UK firms on foreign companies fell to 0.9 billion pounds in the three months
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Moody’s says overall volumes should grow Moody's Investors Service has changed its Industry Sector Outlook for the Europe, Middle East and Africa (EMEA) steel industry to ‘stable’ from ‘negative’, driven by the view that overall volumes in the region should grow slightly on the back of a slow recovery in customers' activity, while steel manufacturers
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The increasingly creative structures that European power companies are implementing to increase their debt capacity need careful consideration to ascertain their ratings impact, Moody's Investors Service said in a new Special Comment. "Moody's believes that these proposals must be thoroughly examined as in many instances overall risk – be it financial, business or both –
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The fundamental credit outlook for the Israeli banking sector is stable, reflecting expectations of healthy domestic economic growth in 2010, following a shallow contraction in 2008/2009, Moody's Investors Service said in its new Banking System Outlook. Israeli banks' modest direct exposure to the global financial crisis, their sound liquidity profiles and adequate capitalisation meant that
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Moody's Investors Service has downgraded the local and foreign currency deposit ratings of BMI Bank B.S.C. based in Manama, Bahrain, to Baa3/Prime-3 from Baa2/Prime-2, and its bank financial strength rating (BFSR) to D from D+. The outlook on the D BFSR is negative. According to Moody's, the rating downgrade reflects BMI's weakened franchise and profitability
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The fundamental credit outlook for the Romanian banking sector is negative, reflecting the challenging conditions in the local economy stemming from the global financial crisis, Moody's Investors Service said in its new Banking System Outlook. So far, however, despite their heightened risk profile, the banks have been able to absorb the various shocks and the
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Moody's Investors Service has confirmed the Caa2 long-term local and foreign currency deposit ratings and B3.ua National Scale Rating (NSR) of Bank Nadra of Ukraine, concluding the review for possible downgrade initiated in January 2009. The outlook on the bank's deposit ratings is now negative and the outlook on the BFSR and debt rating is
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. Demand for bond funds has picked up in an improving but still challenging financial environment, offering portfolio managers an opportunity to differentiate themselves, adding value through credit selection, Moody's Investors Service said in a new Industry Outlook. However, uncertainties on the timing of future interest rate hikes will likely limit duration plays. Since March
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