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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.
- The rebound in US stocks ‘leads me to think that while the markets are saying this isn’t much fun, this is still likely to blow over’, an analyst says
- Carnage carry-over from Asian and European trading fades with US markets modestly weaker
All three major credit rating agencies have now downgraded the island nation’s status, amid concerns it will be unable to refinance its debts
All three major credit rating agencies have now downgraded the island nation’s status, amid concerns it will be unable to refinance its debts
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.
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.