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[14] [15] On January 13, 2012, S&P truly cut France's AAA rating, lowering it to AA+. This was the first time since 1975 that Europe's second-biggest economy, France, had been downgraded to AA+. The same day, S&P downgraded the rating of eight other European countries: Austria, Spain, Italy, Portugal, Malta, Slovenia, Slovakia and Cyprus. [16]
Credit rating is a highly concentrated industry with the "Big Three" credit rating agencies – Fitch Ratings, Moody's and Standard & Poor's (S&P) – controlling approximately 95% of the ratings business. [1] [2] Credit rating agencies registered as such with the SEC are "nationally recognized statistical rating organizations".
The Standard & Poor's rating scale uses uppercase letters and pluses and minuses. [13] The Moody's rating system uses numbers and lowercase letters as well as uppercase. While Moody's, S&P and Fitch Ratings control approximately 95% of the credit ratings business, [14] they are not the only rating agencies. DBRS's long-term ratings scale is ...
In August 2011, S&P downgraded the long-held triple-A rating of US securities. [1] On August 1, 2023, Fitch downgraded its credit-rating of United States Treasuries from AAA to AA+, as S&P had twelve years earlier, leaving only Moody's to still assign its highest rating to the country's debt.
S&P Global Inc. (prior to 2016, McGraw Hill Financial, Inc., and prior to 2013, The McGraw–Hill Companies, Inc.) is an American publicly traded corporation headquartered in Manhattan, New York City. Its primary areas of business are financial information and analytics.
S&P Global cut Ukraine's credit rating to 'selective' default on Friday, after the war-torn country missed an international bond payment this week as it puts the finishing touches on major debt ...
(The Center Square) – A credit rating agency has dropped San Francisco's rating because of the city's deficit spending and economic outlook. S&P Global Ratings lowered its long-term rating and ...
Ratings agency Standard & Poor's, a unit of McGraw-Hill (NYS: MHP) , has once again thrust itself into the spotlight with its downgrade of Google (NAS: GOOG) . Just seven business days after S&P ...