Equity infusion into Air India to be discussed soonSeptember 16th, 2009 NEW DELHI - Stating that the revival plan for cash-strapped national carrier Air India was well on track, Civil Aviation Minister Praful Patel Wednesday said that his ministry will shortly seek cabinet approval for equity infusion into the airline. "There are two issues concerning Air India.
Moody's lowers rating on Sotheby's due to deeper than expected auction downturnSeptember 2nd, 2009 Moody's lowers rating on Sotheby'sNEW YORK — Moody's Investors Service on Wednesday lowered its rating on Sotheby's one step further into junk status with the expectation that a downturn in the auction market will be deeper and longer than anticipated. Moody's downgraded its long-term rating to Ba3 from Ba2.
Moody's upgrades Jo-Ann Stores' rating on improved financial picture and performanceSeptember 2nd, 2009 Moody's upgrades Jo-Ann Stores' ratingNEW YORK — Moody's Investors Service on Wednesday upgraded its rating on Jo-Ann Stores Inc. as the retailer has improved its operating performance and financial picture.
Moody's lifts Bowne outlook to 'stable' from 'negative' after debt repaymentAugust 19th, 2009 Moody's ups Bowne outlook to 'stable' on repaymentNEW YORK — Bowne & Co. Inc., which helps companies make and distribute documents for shareholders and investors, said Tuesday that Moody's Investors Service changed its outlook on the company to "stable" from "negative" after it paid down about $60 million in debt.
Government to infuse capital into rural banksAugust 18th, 2009 NEW DELHI - The government will infuse fresh capital into the regional rural banking system to increase credit flow to the farm sector, Finance Minister Pranab Mukherjee said here Tuesday. "The non-performing assets (NPA) levels of the regional rural banks (RRBs) are within acceptable limits.
Moody's raises rating outlook on Advance Auto Parts, affirms debt ratingsJuly 30th, 2009 Moody's lifts rating outlook on Advance Auto PartsNEW YORK — Moody's Investors Service said Thursday it raised its rating outlook on auto parts retailer Advance Auto Parts Inc. to positive from stable and affirmed its debt and liquidity ratings for the company.
Moody's places Manpower debt rating under review for possible downgradeJuly 27th, 2009 Moody's places Manpower debt rating under reviewNEW YORK — Moody's Investors Service on Monday placed the Baa2 long-term debt rating of Manpower Inc. under review for possible downgrade, saying the staffing company's credit could be weakened by declining profitability and revenue.
White House proposes crackdown on credit-rating agenciesJuly 22nd, 2009 WASHINGTON - US President Barack Obama has proposed a crackdown on credit-rating agencies, among the key players blamed in a financial crisis that has devastated the global economy. The proposed legislation sent to Congress is designed to remove conflicts of interest between the private agencies and the banks and lenders that they are rating.
Moody's cuts rating on Irish government debt amid worries over bank bailoutsJuly 2nd, 2009 Moody's downgrades Irish government debtLONDON — Ireland's debt rating was downgraded by Moody's on Thursday amid mounting worries about the country's public finances and the cost of the government's bailout of the banking system. The New York-based agency said it had lowered its rating by one notch to AA1 from the top AAA level and warned that another downgrade was possible.
Moody's upgrades debt rating on Ohio utility company DPL and subsidiaryJune 26th, 2009 Moody's upgrades DPL and Dayton Power debt ratingsNEW YORK — Moody's Investors Service said Friday it has upgraded the senior unsecured debt rating for utility company DPL Inc. and the senior secured debt rating for its subsidiary Dayton Power & Light Co.
Moody's sees no benefit for creditors from bank TARP repayments; no bank ratings changedJune 18th, 2009 Moody's: TARP repayments don't change bank ratingsNEW YORK — The repayment of about $68 billion in bailout money by 10 large banks may seem like signs of financial strength, but Moody's Investors Services said late Wednesday it's not in the interest of creditors in the short term. The ratings agency said "the repayments have the immediate effect of lowering capital levels and of shrinking liquidity positions at a time when economic and financial market conditions remain highly unsettled."
Moody's does not expect to lower the ratings of the 10 banks — among the largest in the country— who made repayments Wednesday.
Moody's downgrades ratings of 30 Spanish banks and other lendersJune 16th, 2009 Spanish bank ratings downgradedMADRID — Moody's Investors Service has downgraded the ratings of 30 Spanish banks and building societies, citing Spain's economic downturn and a big rise in non-performing loans. The country's two largest banks — Banco Santander and BBVA — retained their B rating in financial strength and Aa1 rating for long-term debt.
Bank stocks feel pressure of capital raises; Moody's confirms negative outlook on sectorJune 2nd, 2009 Banks shares feel pressure from capital raisesNEW YORK — Financial stocks came under pressure Tuesday as several big banks scrambled to raise capital to help repay government bailout funds. A negative outlook on the sector from Moody's also weighed on stocks.
India's credit rating under pressure: Moody'sMay 28th, 2009 NEW DELHI - India's credit rating is facing growing pressure because of the widening fiscal deficit and the country's increasing dependence on foreign capital inflow, global rating agency Moody's said Thursday. "The stable outlook on the ratings has recently faced growing pressure, mainly due to substantial deterioration in the fiscal position amidst a rise in India's dependence on foreign capital flows to drive its investment cycle," Aninda Mitra, a senior analyst at Moody's, said in a report.
Moody's downgrades New York Times, McClatchy credit ratingsApril 25th, 2009 New York Times, McClatchy credit ratings cutNEW YORK — Moody's Investors Service on Friday downgraded the credit ratings of The New York Times Co. and McClatchy Co.
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