Moody’s Investors Service discussed stripping New Zealand of its sole remaining top credit rating amid concern the nation’s current-account deficit is exacerbating its vulnerability to external shocks.
The U.S. government’s borrowing- limit agreement includes “credit-positive elements” for its Aaa rating, as it showed officials will act to ensure payments to creditors and created a process that may lead to debt reduction, according to Moody’s Investors Service.
The U.S.’s Aaa credit ranking from Moody’s Investors Service is unlikely to change this year amid the presidential election and potential for a wave of tax increases and spending cuts to take effect, according to Steven Hess, Moody’s senior credit officer.
The Canadian dollar, the sixth worst performer against the U.S. dollar this year among major currencies, is poised to rebound on North American growth amid dwindling safe assets globally, according to panelists at the Bloomberg Canadian Fixed Income Conference.
U.S. policy makers must address debt loads projected to rise later this decade to avoid a 2013 downgrade, even as the latest budget projections are “credit positive,” according to Moody’s Investors Service.
President Barack Obama ’s plan to cut $4 trillion in cumulative deficits within 12 years may be a “positive” for the nation’s credit quality and mark a reversal in the budget debate, according to Moody’s Investors Service.
The U.S. government’s Aaa credit rating may face a downgrade review if there’s no progress on increasing its statutory debt limit, said Steven Hess , senior credit officer at Moody’s Investors Service.