Credit ratings agencies

Analysis and Comment (9)

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Troubled bank is co-operating with the authorities. Rui Vieira/PA

What went wrong for the Co-op Bank?

By Martin Upton, The Open University

Collapsing business deals, massive financial losses, and a “junk” rating have made recent months a nightmare for the Co-op Bank. In March it announced losses of £634m for the 2012 financial year, largely…
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Subprime ratings have come back to haunt Standard and Poor’s, which is now facing civil action from the US government. AAP

US government’s lawsuit against S&P puts ratings agencies back in the spotlight

By Kevin Davis, Australian Centre for Financial Studies

Five billion dollars is a lot of money — and that is the amount which the US Justice Department claims were losses incurred by US banks and credit unions from investing in CDOs rated by Standard &…
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Italian Prime Minister Silvio Berlusconi’s austerity measures are misdirected and too dramatic. AAP

As Moody’s trashes Italy, voters can’t count on Berlusconi

By Bruno Mascitelli, Swinburne University of Technology

The move by international ratings agency Moody’s to cut Italy’s credit rating for the first time in two decades will do little to ease concerns about the Eurozone’s debt crisis, despite global markets…
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Standard & Poor’s could still downgrade the US credit rating, despite the debt ceiling deal. AAP

Explainer: the role of credit ratings agencies

By Kevin Davis, Australian Centre for Financial Studies

Washington lawmakers in the US House of Representatives have passed an agreement hammered out between Republican and Democrat leaders designed to avert a US debt default. The move is a further step towards…
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Despite attempts at regulatory reform, ratings agencies still act with little threat of litigation. AAP

Should investors sue ratings agencies? It’s a matter of opinion

By Tin Bunjevac, University of Melbourne

Standard & Poor’s downgraded Greece’s sovereign debt rating by three notches on Monday, reflecting its view that it would be next to impossible to imagine a scenario where the country could restructure…
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Ratings agencies face tougher rules, but how much regulation is too much? herval/flickr

Reining in credit rating agencies

By Tin Bunjevac, University of Melbourne

The behaviour of credit rating agencies is back in the spotlight, as Portugal struggles with its large debt burden. Credit rating agency Fitch has copped some criticism for cutting Portugal’s credit rating…

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