Standard & Poor’s is best known for stock market indices such as the US-based S&P 500 and for its credit ratings, competing against Moody's Investors Service and Fitch Ratings. Rating agencies came under fire for issuing top ratings to pools of mortgages which included subprime loans and in February 2013, the US Justice Department filed a civil lawsuit against S&P, seeking US$5 billion in civil damages.
Credit rating agency Fitch Ratings has placed Oversea-Chinese Banking Corp, Southeast Asia's second-largest lender, on negative watch, citing higher potential exposure to China, after the bank announced a HK$38.4 billion takeover of Hong Kong's Wing Hang Bank.Friday, 4 April, 2014, 5:24am
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meeting of the Italian banking federation, Saccomanni said ratings decisions on sovereign debt risked being based on outdated information and creating unwanted pro-cyclical effects.11 Jul 2013 - 12:56am
Standard & Poor's has lowered the credit ratings of Barclays, Deutsche Bank and Credit Suisse, citing new rules and "uncertain market conditions" that threaten the banks' business.4 Jul 2013 - 3:48am
Already under fire for their role in the subprime crisis, Fitch, Moody's and Standard & Poor's (S&P) are now in the sights of Dagong Global Credit Rating, which has formed a joint-venture agency with Russian and US partners.26 Jun 2013 - 4:08am
Standard & Poor’s downgraded Venezuela’s sovereign foreign currency credit rating by one notch on Monday, citing political turmoil as an impediment to enacting meaningful reforms in order to stop a slide in economic activity.18 Jun 2013 - 10:25am
Standard & Poor’s has removed the near-term threat of another credit rating downgrade for the US credit by revising its outlook to stable from negative, citing an improved economic and fiscal outlook.
The change effectively means there is less than a one-third chance of a downgrade in the next two years.11 Jun 2013 - 11:30am
McGraw-Hill, which faces US$5 billion in fines for allegedly misleading bondholders, is fortifying its own investors with US$1.4 billion in net cash and what may be the fastest profit growth since 2007.14 Feb 2013 - 4:53am
The Department of Justice accuses McGraw-Hill and its subsidiary Standard & Poor's of deliberately understating the risk of bonds backed by mortgages made to the riskiest borrowers, in order to win business from Wall Street banks.7 Feb 2013 - 5:16am
"China has the highest investment-to-GDP ratio in the world - a downturn in its investment cycle would not only adversely affect its economy but also those of others, and global commodities prices," S&P said in a report yesterday.1 Feb 2013 - 5:23am
Beijing still has plenty of ammunition for stimulus measures, but some companies and banks face considerable risks, according to recent reports by ratings agency Standard & Poor's.
"China has plenty of powder left in its stimulus keg," one report by Tan Kim Eng, a senior director, said.2 Nov 2012 - 5:30am
Profitability of mainland steel producers will remain poor in the next two years in the severely oversupplied sector, unless Beijing comes up with a radical policy to consolidate the number of producers, according to credit rating agency Standar6 Sep 2012 - 2:50am
Profitability of mainland banks will be hit this year as the government liberalises interest rates, says Standard & Poor's.16 Jun 2012 - 12:00am
Shares of Sun Hung Kai Properties edged up yesterday after Standard & Poor's affirmed its long-term rating and removed it from its credit watch negative list, saying the arrest and probe of four of its directors had no major impact on the company's daily operations.16 Jun 2012 - 12:00am