America’s banking sector is creeping closer to a wide-ranging downgrade. That’s according to Fitch Ratings analyst Chris Wolfe, who told CNBC Tuesday (Aug. 15) that such a downgrade could even touch seemingly untouchable giants like JPMorgan Chase. Wolfe said Fitch lowered its assessment of the banking sector’s health in June,...
El Salvador has repurchased more than $500 million of its bonds at a huge discount, but that may not lessen its risk of a default at the beginning of 2023. While the country’s experiment with bitcoin as a legal tender has largely been a failure,...
As part of a broader look at environmental, social and governance factors on credit scores, Fitch Group Inc. noted that shortcomings in financial crimes and anti-money laundering (AML) controls are more likely to impact the credit rating of a bank than non-financial factors. Categories examined...
Global ratings agency Fitch warns that China’s efforts to reduce corporate debt levels will likely have a negative impact on the nation’s economy, according to South China Morning Post reports Monday (June 4). The warning offers an added level of complication to the issue, as...
May 18, 2016
No longer the purview of Western nations, FinTech is gaining traction in the East — from China to India and beyond — and thus is becoming truly global in scope. But as always, with any sea change in payments, waves can rock some leaky boats, namely, traditional banks. Fitch weighed in on the promise and perils of FinTech as it gathers momentum in Asia.
September 27, 2023
Leveraged loans were a popular method of financing during the pandemic. Now, with interest rates set to stay high, they’ve turned into a major headache, The Wall Street Journal reported Wednesday (Sept. 27). According to that report — which cites the ratings firm Fitch — close to $270 billion of leveraged loans have weak credit profiles […]
August 15, 2023
America’s banking sector is creeping closer to a wide-ranging downgrade. That’s according to Fitch Ratings analyst Chris Wolfe, who told CNBC Tuesday (Aug. 15) that such a downgrade could even touch seemingly untouchable giants...
May 10, 2019
As part of a broader look at environmental, social and governance factors on credit scores, Fitch Group Inc. noted that shortcomings in financial crimes and anti-money laundering (AML) controls are...
November 20, 2017
In the European Union, use of credit ratings that have their genesis outside the EU is about to get a little more stringent. Reuters reported that rating agencies operating “outside...
