Fitch Ratings News
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Updated 1 hour, 7 minutes ago
Nokia Oyj, the world’s biggest maker of mobile phones, had its debt rating cut to the lowest investment ranking by Standard & Poor’s, which cited operating margins that may be further reduced this year.
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Dollar bonds issued by Centrais Eletricas do Para SA, the Brazilian utility that filed for bankruptcy this week, will recoup all of their losses because the government will support the company, Barclays Plc said.
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Luxembourg Finance Minister Luc Frieden said the European Union won’t relax budget deficit rules to give Spain breathing room even as the nation’s economy minister said its target for 2012 is outdated.
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Updated 1 hour, 9 minutes ago
Warren Buffett’s MidAmerican Energy Holdings Co. is planning a second round of bonds to finance its $2.4 billion Topaz Solar Farm in California after investors sought more of the debt than was offered in the first public issuance for a U.S. photovoltaic power project.
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Guatemalan President Otto Perez Molina is sparking a bond rally by pledging to tame drug violence that has pushed the murder rate up 60 percent in the past decade and cut into economic growth.
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Banco BTG Pactual SA, the Brazilian bank led by billionaire Andre Esteves, plans to sell new and existing shares in an initial public offering after pursuing about $1.5 billion of acquisitions in the past five months.
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The futures industry is recommending more rigorous reporting and internal controls for brokerages as $1.6 billion of customer money is still unaccounted for after the bankruptcy of MF Global Holdings Ltd.
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Greek 10-year bonds slumped to a record on concern the nation will use collective action clauses, or CACs, to enforce losses on bondholders.
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More than half of municipal bonds carried insurance before the 2008 credit-market collapse, creating an abundance of AAA rated debt. Its decline allows for more opportunities to find underrated credits and yield spread, said Jamie Iselin, head of municipal fixed income at New York- based Neuberger Berman, which manages about $11 billion of munis.
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Sri Lanka’s biggest overhaul of economic policy since the end of its civil war risks a bump in inflation while auguring increased stability by aiming to curb the island’s trade deficit.
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