Credit Rating

Fosun hits back over ratings review after purchase of Portuguese insurers

Fosun's chief executive, Liang Xinjun (inset), said the company had prepared adequate capital for the acquisition. Photo: Fosun website

Fosun International chief executive Liang Xinjun has hit back at two international credit rating agencies that are reviewing their ratings of the company following the acquisition of three Portuguese insurers, saying its financial situation is comfortable.

Wednesday, 15 January, 2014, 8:30am

Italian economy minister calls S&P rating cut ‘backward'

Italian Finance Minister Fabrizio Saccomanni. Photo: EPA

Italian Economy Minister Fabrizio Saccomanni criticised Standard & Poor’s cut to its rating on Italy, saying it failed to take account of recent government measures to boost growth. Speaking at the annual meeting of the Italian banking federation, Saccomanni said ratings decisions on sovereign debt risked being based on outdated information and creating unwanted pro-cyclical effects.

11 Jul 2013 - 12:56am

GM targets investment grade rating ’within the year’

General Motors’ boss Dan Akerson said Cadillac’s past mistakes included ugly designs and limiting the brand to North America. Photo: AFP

General Motors said it is targeting an investment grade credit rating “within the year” as the US automaker works to distance itself from the stigma of its 2009 bankruptcy.

13 Jun 2013 - 11:31am

Labour blasts George Osborne over Britain's loss of AAA credit rating

London's financial district. Moody's stripped Britain of its coveted AAA credit rating.

In a rebuff to London's hopes that sharp spending cuts would both gradually eliminate the deficit and give growth a boost, Moody's rating agency cut Britain's grade by one notch to Aa1.

24 Feb 2013 - 5:35am

Business Digest, February 7, 2013

Now TV signed its exclusive deal to broadcast English Premier League football matches in Hong Kong for three seasons.

Hong Kong and Shanghai-listed China Cosco Holdings could face a revolt by minority shareholders in China as it risks being delisted from the Shanghai stock exchange when it posts its third net loss in a row. 

7 May 2015 - 3:04pm

Junk rating for bleeding Sony and Panasonic

Chief executive Kazuo Hirai

Sony and Panasonic, the Japanese electronics makers reeling from record losses, have had their long-term credit ratings downgraded to junk by Fitch Ratings, citing a weak recovery in the television market.

Sony's rating was cut by three levels to BB-, three steps below investment grade, with a negative outlook, Fitch said yesterday.

23 Nov 2012 - 2:21am

French rate cut could hit eurozone rescue fund: Moody's

French rate cut could hit eurozone rescue fund: Moody's

The rating agency Moody’s said on Tuesday that it was studying the impact of its cut of France’s top credit notation on the triple “A” ratings of eurozone rescue funds that are underpinned in part by France.

20 Nov 2012 - 10:48pm

S&P cuts credit rating for Santander and Bilbao Vizcaya Argentaria banks

Graffiti reading "Guilty" sits on a wall next to an automated teller machine in Madrid. S&P has cut Spain's ratings. Photo: Bloomberg

Standard & Poor's cut its credit ratings on Banco Santander and Banco Bilbao Vizcaya Argentaria, Spain's biggest lenders, along with nine other banks after lowering the country's sovereign rating.

17 Oct 2012 - 2:59am

Asset worries see Minsheng Bank take a tumble

The price of China Minsheng Bank shares fell yesterday on news that two brokerage houses had downgraded its ratings over concerns of deteriorating asset quality and narrowing profits due to a regulatory change.

6 Sep 2012 - 4:03am

Hong Kong regulator goes after CEO in jail

A Hong Kong court has given the Securities and Futures Commission permission to serve a lawsuit on former China Forestry chief executive Li Hanchun, currently being detained on the mainland.

5 Mar 2011 - 12:00am

Logging firm's chief sued over share sale

The Securities and Futures Commission is suing the chief executive of mainland company China Forestry in an attempt to freeze the proceeds of a questionable share sale he carried out just days before the company admitted its auditors had found possible accounting 'irregularities'.

9 Feb 2011 - 12:00am

Moody's upgrades display confidence in HK and mainland

Rating agency Moody's Investors Service has upgraded the government bond ratings of Hong Kong and the mainland, signalling their ability to contain possible losses from a credit boom.

12 Nov 2010 - 12:00am

Hutchison credit rating may face downgrade on bond issuance plan

Hutchison Whampoa's credit rating is under review for possible downgrade by Moody's Investors Service, which cited a plan by a Hutchison subsidiary to issue guaranteed perpetual capital securities.

22 Oct 2010 - 12:00am

Country Garden to sell debt for bond buy-back

Guangdong-based developer Country Garden Holdings plans to issue senior notes to buy back convertible bonds and finance property projects in its second debt-selling exercise this year.

5 Aug 2010 - 12:00am

Neo-China falls 43pc as trading resumes

Shares of beleaguered developer Neo-China Land Group plunged 42.83 per cent yesterday when they resumed trading after a hiatus of more than two years.

Shanghai Industrial Holdings earlier announced it had completed the purchase of a controlling stake in the company. The stock fell HK$2.12 to HK$2.83, making it the market's biggest loser of the day.

26 Jun 2010 - 12:00am

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