Ninth episode of the Guide to Finance, published by FIRSTonline and developed by REF Ricerche with the collaboration of Allianz Bank Financial Advisors - Professor Alfonso Del Giudice explains what they are, what they are for and who issues the ratings...
Despite making their hopes due to the date, but also due to the unpredictability of the US agency, analysts are quite optimistic. But a downgrade would push the spread to 250 bps and other serious consequences. Let's see which ones
The Fed President does not rule out new rate increases until inflation reaches 2% but the markets are confident that he will not do so - Waiting for Fitch's verdict on Italy
At the moment our country enjoys a BBB classification with a stable outlook and, forecasting a decline in public debt in 2024, has revised upwards its growth estimates for the current year - Friday 19 May will be…
The Fitch rating agency confirms its opinion on Enel and its subsidiary Endesa with a stable outlook. Debt reduction promoted through the disposal plan
The placement phase of the Btp Italia reserved for institutional investors has closed: double the number of orders compared to that of June. Waiting for Fitch's judgment on Italy's sovereign rating
Russia's default is imminent according to Fitch who downgraded Moscow's debt rating to junk. New EU sanctions on the way
The promotion of Italy by the rating agency gives the charge to the BTPs, while Piazza Affari scrutinizes Tim's horizon after the opening of Vivendi to the single network and awaits the new Orcel-format Unicredit plan
Cold shower for Italian government bonds due to the increase in deficit and debt: they are just one step above the junk level - Gualtieri's reply and the effects on the banks - The markets rely on the ECB…
The positive judgments of Moody's, Fitch and Exane Bnp Paribas arrived on the banking transaction of the year, confirming or raising the rating and target price on the two banks - Cattolica gains more than 1% of Ubi and adheres to the Car pact
In the latest update of its "Global Economic Outlook", the rating agency has made "significant downward revisions" to half the world's GDP for the next 18 months
The review was carried out following the implementation of new methodological criteria for the ratings applied by Fitch to Italian insurance groups.
On the other hand, the opinion on creditworthiness confirmed - The outlook remains negative in both cases - Leone shares rise in Piazza Affari
The American agency avoids downgrading Italy and confirms the BBB rating with a negative outlook but highlights the "high level of debt" and the worrying increase in "political uncertainty" - Fitch forecasts a +2019 GDP for 0,3, XNUMX% and a public deficit…
With closed markets, the American agency Fitch will communicate Italy's rating on the sustainability of its debt, a signal with effects on the stock market and above all on the yields of government bonds and on interest expenditure - Today Piazza Affari closed…
The stock markets are slowing down after repeated signs of an economic slowdown - New Treasury auction in view of Fitch's verdict on Italy's rating - Tim-Vodafone pact on 5G - Exploits of the editorials in Piazza Affari
The American agency has upgraded Enel's rating from BBB+ to A- with a stable outlook - Now the rating of the group led by Starace is higher than that of the Italian state: Fitch recognizes it as a global leader in…
The agency downgraded Banca Carige's rating from B- to CCC+ with a negative outlook, but the bank denies the danger of bankruptcy.
The outlook of 5 banks and 9 insurance groups, to which Azimut is added, has been revised downwards from "stable" to "negative": the "not rosy" prospects for the future of the Italian economy and the exposure of government bond company…
Today Wall Street is on vacation for the Labor Day holiday but the Piazza Affari session is the first test on the effect of the complex verdict of the Fitch agency on the Italian debt, without forgetting the negative repercussions of the government's fluctuations…
The American rating agency does not downgrade Italy and considers it unlikely that our country will leave Europe but warns that the size of the public debt makes us more exposed to potential shocks - VIDEO.
Not only Argentina and Turkey, duties and currencies, but also the Italian risk keeps the markets anxious as they await the verdict of the Fitch agency on our country - It is not excluded that the Government anticipates the budget maneuver -…
Btp auction ok but the ten-year yield jumps to 3,25%, the highest since March 2014 - Piazza Affari reduces losses but fears tomorrow's verdict from the Fitch agency.
The Shanghai Stock Exchange soars after Powell's words on rates and Trump prepares the agreement with Mexico - Minister Tria in China to convince Beijing to invest in Italy and to buy government bonds but two…
The Fitch rating agency sounds the alarm on Italy's political risk and the Btp-Bund spread soars with a 2,409-year yield of 2014%, the highest since 1,5 - The stock market also falls (XNUMX%) but above all as a result of…
Algebris holds potential indirect stake of 5,286%, while BlackRock holds 5,015% indirect - Fitch and Moody's improve ratings on the institution
Fitch has decided to maintain a negative outlook on Italian credit institutions mainly due to the high presence of NPLs.
Fitch assigns the 'BB+' rating, stable outlook - Closed the first senior financing deal - Also purchased three packages of non-performing loans for 1,7 billion.
The confirmation of the debt, stable outlook, reflects the update of the 2017-23 strategic plan.
Mediobanca's analysis of publicly owned companies puts its finger on the sore mercilessly:
Rating agency accuses low growth and political instability - The outlook for the banking sector is "negative" and this is mainly related to the challenges of reducing non-performing loans and weak profitability.
Fitch explained that the rating reflects Generali's capital strength, strong operating performance and the prospect that management's action will continue to preserve capital and reduce financial leverage.
The US ambassador in Rome, John Phillips, reflecting President Obama's thoughts says that the No to the referendum is a step backwards" but his words unleash political controversy - Bersani on the attack: "Who does he take us for?" - Il silence…
A- on the Ifs and on Assicurazioni Generali's long-term debt: this is Fitch's opinion which keeps both outlooks stable - The agency's capital position improves, the focus on capital conservation and leverage reduction is good…
The rating agency intervened on the 3,6 billion operation decided by Italy to rescue Banca Marche, Pop Etruria, Cassa di Chieti and CariFerrara: "Expensive for the banking sector, especially because the four banks represent only the '1% of the assets of the…
According to the agency, Leo deserves the upgrades for the incisive action of the management and for the income performance to come.
The agency underlines that Beijing "still has substantial fiscal resources at its disposal", demand and production "do not signal an extraordinarily fast, disorderly and large deceleration" and "consumption and the labor market remain robust"
On the eve of a crucial week for the fate of the electoral reform, Prime Minister Matteo Renzi remains confident in the possibility of it being definitively approved by the Chamber but warns: "If the Italicum does not pass, the Government will fall" - Meanwhile Renzi…
The rating agency has revised upwards the institution's rating outlook, from negative to stable - BBB+ long-term rating and F2 short-term rating confirmed.
According to the German Finance Minister, the Italian government has "made the necessary reforms" - Fitch writes that the rapid election of Sergio Mattarella al Colle "should help the Italian Government and Parliament to focus on institutional and economic reforms".
Rating agency Fitch thinks the decree could bring positive effects to the situation of cooperative banks by strengthening their governance and making it easier to consolidate in the sector
This is supported by the Fitch rating agency: "We believe that FCA's ambitious growth strategy can induce the group's management and its main shareholders to consider a new global partner so that they can further grow and diversify".
The agency believes that the stress tests “could reveal more capital shortfalls in Greece, especially if the planned restructuring measures are not fully implemented” - Greek spread jumps more than 100 basis points, to 703 -…
The provision, underlines a press release from the agency, "is based on our opinion that Fiat's rating should take into account the consolidated credit profile, ie including Chrysler, rather than a stand alone dimension".
The Fiat group has announced the opening of the books for benchmark bonds (senior unsecured) - The title will be listed on the Dublin stock exchange and the guaranteed annual dry coupon is 4,75% for a duration of eight years.
The analysts of the rating agency underline that the executives of Italy and Spain emerge strengthened from the polls of the European elections, which can therefore now operate by virtue of an even more solid mandate and encounter fewer obstacles along…
The Fitch agency raised its rating on Greece's debt by one step, which thus passes from B- to B (a speculative category in any case), with a stable outlook - Standard and Poor's, on the other hand, revised its rating on Spain positively, …
After the last few years at the mercy of the "W" recession, Serbia could improve the already positive performance of its national economy. However, the new pro-European government, the end of the recession, industrial growth and declining inflation do not…
This was communicated by the agency which specifies that the decision follows the revision of Italy's outlook by Fitch on April 25th.
In Ukraine there is a fight and despite yesterday's sparks on Wall Street, both Asian (even if Tokyo recovers with a final sprint) and European price lists suffer, with Milan losing almost 1% in the middle of the day despite the…
The American agency confirms Italy's BBB+ rating and improves its outlook from negative to stable - According to Fitch, the recession is now over but our country's growth prospects are still weak.
The unexpected growth in iPhone sales, the buyback and the split of the shares make Apple fly (+8%) and electrify the markets after the bad news from the US economy - Milan is up this morning but Italy fears the Fitch's judgment…
The rating agency today confirmed the triple A rating for the United States, with a stable outlook, while Moscow's rating, currently BBB, risks being downgraded due to Western sanctions against Putin.
A report from the rating agency, the pronouncement of the German Constitutional Court and Putin's more conciliatory tone on Ukraine give sprint to the Stock Exchanges awaiting the first moves of Yellen at the helm of the Fed - All the lists are on the rise…
Fitch analysts write this, noting that so far Italian banks have announced more than 20 billion euro of write-downs on loans in 2013, mostly in the fourth quarter.
According to the rating agency, the revaluation of Bankitalia's shares will not help to increase the base capital of the banks - The rules prevent credit institutions from including these profits in the calculation of the balance sheet figures at the end of 2013.
The rating agency announced in a press release that it had confirmed its rating on German debt: triple A, with stable outlook - "The overall debt-to-GDP ratio is already falling in Germany and the government is moving within…
The rating agency Fitch Ratings today confirmed UniCredit's rating: 'BBB+' for the long term, 'F2' for the short term and the individual rating 'bbb+' (Viability) - The "negative" outlook remains unchanged.
Fitch's report on the prospects for 2014 of Italian insurance companies underlines the risks of the sector, relating above all to the high amount of government debt securities held by the companies - A marginal worsening of the…
The agency cut BPM's IDR rating from BBB- to BB+, maintaining the negative outlook - An upgrade would be possible "only with a strengthening of governance, higher levels of capital and an improvement in asset quality".
Inconclusive negotiations between the House and Senate, Fitch wrote, "risk undermining confidence in the US dollar's role as a major reserve currency" - "Although Fitch still believes the debt ceiling will be raised soon,…
The political crisis threatens the achievement of Italy's budget objectives: this is Fitch's warning regarding the probable imminent government crisis.
The agency confirmed the bank's debt rating, but cut its viability rating: a decision that reflects "the growing probability that the Italian government will become the Bank's largest shareholder".
Fitch's confirmation reflects the weakness of the Made in Italy public insurance sector and the related commercial risks, where a revision of the prospects for the real Italian economy would benefit SACE itself.
Fitch's downgrade comes after the presentation, last Friday, of Telecom's half-yearly accounts, closed with a loss of 1,4 billion euros - Today the news was released according to which Vodafone has opened a civil lawsuit…
According to the US rating agency, medium-sized Italian institutions will soon need to resort to capital increases to offset the pressure on their capital base - Securities issues may not be enough.
The rating agency put BpM on negative credit watch and on Friday downgraded Bper to BB+ from BBB. Banco Popolare and Popolare di Sondrio are also down.
Finmeccanica stock travels in negative territory after the news of the rating cut, from BBB- to BB+, by Fitch - According to the rating agency, the Italian group will not reach its pre-established financial objectives.
The decline came in the aftermath of Fitch's upgrade on the Greek country's sovereign rating: yesterday the rating agency raised its rating on Greece's creditworthiness from CCC to B-, with a stable outlook
According to David Riley, responsible for sovereign ratings at the Fitch agency, the current lack of a government with an appropriate mandate is damaging the climate of confidence "of businesses and consumers in Italy".
The Fitch rating agency yesterday assigned EI Towers, a Mediaset subsidiary, a BBB rating, with a stable outlook
According to the agency, it will be important for Italian banks to maintain an adequate capital endowment to try to counteract the worsening of the economy - If they fail to do so, the ratings will come under pressure.
Intesa Sanpaolo's long-term rating moved to BBB+ from A-, with a negative outlook - Same fate for Unicredit.
Telecom Italia shares are among the best today on the Ftse Mib, after the rating agency Fitch confirmed the company's BBB rating, albeit with a negative outlook.
This week we will see if and how much Italy's relegation with the cut in Fitch's rating weighs on the BTPs - This morning Piazza Affari starts badly - Spotlights also on the 1 to 9 Atlantia-Gemina exchange for the merger that…
Agency cuts Italy's credit rating to BBB+ from A- with negative outlook - Rating reflects “inconclusive outcome of Italian elections" - Deeper and longer-than-expected recession "puts fiscal consolidation effort at risk…
The telecommunications company still pays the decision, announced on Friday, to halve the dividend to be distributed to shareholders - Fitch confirms its rating at BBB, with a negative outlook - The decision on the sale of Telecom Italia Media has been postponed.
According to the Fitch rating agency, the reforms launched by the executive of technicians in 2012 have almost completed the objective of stabilizing public finances and sovereign debt.
Spain's debt rating will remain at risk of a downgrade over the next 12 months even if the country manages to avoid ECB assistance, Fitch's head of sovereign ratings David Riley said, adding…
The same rating agency said it in a note released today: "If Congress does not reach an agreement on the debt ceiling, we should re-examine the assessment of the US" - According to Fitch, however, the risk of default in the United States…
Debt dynamics, underlines the credit rating agency, "continue to depend on the pace of deficit reduction, nominal GDP growth, the costs of supporting the banking sector and, to a lesser extent, the level of…
The French president said this in response to Fitch's decision to maintain triple A with a negative outlook on French debt: "We operate only in the interest of France".
The rating agency Fitch rejects Argentina: the assessment of the South American state has thus dropped by five points, from B to CC with a negative outlook.
Sony's rating was cut by three levels, slipping to "Bb-" in "speculative grade", with a negative outlook - Panasonic drops two notches and ends up at "Bb" - Both stocks slip to historic lows on the Stock Exchange.
Fitch has decided to limit its disclosures to the market regarding the ratings of Italian entities and issues to formally published research, after the prosecutor of the Trani court requested an indictment for Fitch…
The rating agency issued a statement threatening to downgrade the United States if the new administration does not resolve the so-called "fiscal cliff".
This was communicated by the US rating agency: the prospects for the insurance sector remain negative as companies in the sector have a large quantity of Italian government bonds in their portfolios.
The rating agency has downgraded seven medium-sized Italian credit institutions, four to junk level - Among these Bpm (from BBB to BBB-) and Carige (from BBB to BB+) - At risk also the triple A of the States…
David Riley, Fitch's rating operations director: "The Monti government has gained a lot of political credibility for the measures it has taken, but there are concerns about who will lead Italy next year."
According to the agency, fiscal and macroeconomic risks "derived from the financial sector are diminishing and are moderating" - The recovery is expected to accelerate "gradually" in 2013 and 2014 and, in the medium term, "should expand to an annual average around …
The agency cut the country's sovereign debt rating from BBB- to BB+ due to the "substantial increase in capital needs that it is believed Cyprus' banks will need due to their exposure to major lenders…
After Moody's, Fitch also revised negative expectations for New Delhi - The rating is confirmed at BBB-, the last investment grade - The country's biggest problem is the lack of political action which risks slowing down…
Flurry of downgrades on Spanish banks and yields on 6,83-year Bonos soaring to XNUMX% - This is the new high since the introduction of the euro - Stock markets down.
No one is immune from the risk of contagion – As for Italy, the director general of the agency believes it is unlikely that it will need a rescue.
According to some European sources, the Iberian country will make an official request for aid for its banks this weekend - the Fitch rating agency has estimated that between 50 and 100 billion euros will be needed.
Heavy banks on the Ftse Mib: the worst losses are those of MPS (-5,18%), Banco Popolare (-4,67%), Mediobanca (-4,65%) and Ubi Banca (-4,49%) - Intesa (-4,06%) and Unicredit (-4,59%) are also bad - The spread between ten-year BTPs and…
The rating agency estimates a total cost of the restructuring of the Spanish banking system between 60 and 100 billion euros - The reduction on the sovereign rating was three levels from "A" to "BBB" - Fitch expects…
If Ligresti does not waive the indemnity and the right of withdrawal, Premafin's capital increase risks skipping and Unicredit's CEO sends an unequivocal signal: "If necessary, we will enforce the pledge", i.e. 35% of Fonsai in…
The American rating agency in a report defined the dismemberment of the eurozone as "improbable" - Too many efforts by the euro countries to ensure that they are thwarted
The rating agency warns Italian and Spanish insurance groups due to their exposure to Greece. If Athens were to leave the euro they will be placed on negative creditwatch, or downgraded to a "limited" extent.
