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...
While the Lisbon government is overwhelmed by corruption investigations which allegedly concern the prime minister and the minister of economic development, the US agency raises the rating from Baa2 to A3. How does the situation in Portugal differ from…
Since the beginning of the year, the Ftse Mib has been the brightest among the European stock market indices and is now one step away from the 2008 highs - The Moody's effect will be felt on bonds - Today 9 companies pay a large…
Italy passes the tests of the rating agencies. Even the fearsome Moody's confirms the Baa3 rating and improves the outlook for our country's economy
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
Sharp rise in all European markets and above all in Milan where Interpump, Hera and Cnh shine - The verdict from the rating agency is coming
After the turnaround of Goldman Sachs in favor of the Spanish Bonos, the rating agency also targets Italian BTPs - The collapse of First Republic Bank scares the stock markets
In the last three years, the FS sustainability performance score has gone from 52/100 to 65/100
The 5-year bond in euro had a yield of around 7% at the start of the auction
Moody's changed the outlook of the banks of 6 countries, including Italy, from stable to negative. But on our institutes: "Coefficients will remain solid"
Moody's reduces estimates of world and Italy growth but does not upset the stock markets which rebound again - Saipem and the banks push the Ftse Mib
Piazza Affari closes the week up, anticipating the go-ahead from the Mes and sniffing out the confirmation of the Moody's rating - Banco Bpm, Atlantia, Prysmian and Cnh Industrial shine above all - The other share lists also do well despite the…
The impact of the coronavirus will create many difficulties for banks - For this reason, Moody's reduces the outlook of 14 institutions, leaving only Unicredit stable
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
Leonardo and Stm push the Ftse Mib beyond the threshold of 23 thousand basis points, while Moody's restores relief to the banks - Buzzi and Azimut also do well.
The prospects go from "negative" to "stable" thanks to the continuous reduction of NPLs and the improvement of financing conditions - Atlantia and Autostrade ratings cut instead - S&P promotes Salini Impregilo
The American agency Moody'e confirms the BBB3 rating for Italy, one step just above the junk level - And the markets breathe a sigh of relief.
Italy hopes to avoid the relegation of Moody's and is preparing to sign, amid controversy, agreements with China which has decided to open up on the patents and technologies of foreign companies - ENI's business plan today -…
The pound falters in view of tomorrow's decisive vote of the British Parliament on Brexit - Instead Italy, increasingly trapped in the Tav soap opera, anxiously awaits Friday's Moody's rating and the result of the bond auctions…
As a consequence of Italy's downgrade, the American agency has launched a series of downgrades - Generali, Leonardo and Rai are saved
Codacons denounces Moody's to the prosecutor for having damaged savers and citizens but in reality it takes boos for fiascos, as demonstrated by the market trend
Despite the rating downgrade to Baa3, the US agency's decision to raise the outlook to stable encourages markets that see the prospect of a "Junk" rating receding - The spread on Italian bonds returns to 300…
The American agency downgrades Italy's rating from Baa2 to Baa3 with a stable outlook and government bonds just above the "junk" level - In the crosshairs the expenses for the basic income and for the 100% of the pensions - "Very…
The rating agency awaits the government's new budget maneuver before making a decision, but the big brokers argue that any overrun of the deficit/GDP ratio by 3% could cause the spread to rise up to 470 basis points - Today the…
Algebris holds potential indirect stake of 5,286%, while BlackRock holds 5,015% indirect - Fitch and Moody's improve ratings on the institution
In a morning still dominated by prudence on European price lists, Milan suffers from the negative opinion of the rating agency. "It doesn't represent reality," replies Economy Minister Padoan. But Piazza Affari wonders about the rumors that indicate the return of Monte…
Minister Padoan is harsh: "I won't go into the merits, but the judgment does not represent reality". Moody's points out that the weaknesses are only partially mitigated by a slight recovery in the economy and lower NPL fixed income
The dollar rises, gold falls - Banks and luxury stocks led by Cucinelli do well in Piazza Affari (+4%) but the FtseMib index, after an initial flare-up, is back close to parity - European stock exchanges are doing better
The US rating agency has raised its estimates of Italian growth to +1,3% in 2017 and also in 2018 - The economies of Germany and France are also improving more than expected.
The Bologna-based group is under observation by the American rating agency, in particular as regards those referring to long-term and senior unsecured debt. The establishment of the bad bank, according to Moody's, will have a marginal impact on the capital of…
After Moody's rating upgrade
The issuance launched on Wednesday morning was completed successfully, the guidance dropped to 123 basis points above the midswap rate.
The American agency has reduced the rating on the former British colony from Aa2 to Aa1, which has already begun to protest strongly
Fears of a slowdown in growth prevail. Beijing responds and awaits the judgment of S&P.
Stable outlook - Short-term judgment also reiterated Prime-2 - With the maxi increase on the way, according to the agency, the Bank will be in a better position to face the challenges awaiting the Italian credit market.
Moody's declared that the confirmation of Generali's ratings, with a stable outlook, "reflects above all the Group's business diversification outside Italy".
The victory of the No vote in the referendum on 4 December could be decisive for the fate of the weaker banks - According to Moody's, MPS currently struggling with the business plan could suffer the heaviest consequences.
The rating agency's estimate for 2016 and 2017 goes respectively to +1% and +0,9% from +1,2% for both years of the previous estimate - The estimates on the GDP of the euro area have also been cut especially that of the Kingdom…
The valuation slips into the "non investment grade" area and the outlook is still "negative" - The downgrade reflects the prospect of a further worsening of the country's debt levels in a context of low growth.
Moody's raises the outlook of the Italian banking system - Ghizzoni presents the Unicredit plan but does not sell Fineco and Pekao - Popolari in maneuver - Exor, over 11 billion of NAV - Vodafone sounds the charge on the TLCs and Moncler…
The estimates corrected downwards on the growth of GDP in Italy and France in 2016 elaborated by the rating agency are cooling down the Stock Exchanges, which are also worried about the uncertainty looming over China and made thin and volatile by the weakness of mid-August trade -…
The rating agency expects growth for Italy - and for France - "at 1% or a little below this year and around 1% or a little above in 2016" - Alarm for unemployment, which will not go down significantly.
The US agency's move came following the introduction of the new methodology on bank valuations
The long-term rating on the Italian Bank's deposits and Senior Unsecured debt was raised from Baa2 to Baa1.
The Bologna-based multiutility, chaired by Tomaso Tommasi di Vignano, saw its outlook improve by the rating agency: from negative to stable, confirming the BAA1 rating.
The rating agency brought Italy's rating for 2015 in the range of up to +0,5% - Unemployment, however, remained unchanged, which will still be around 12-13%.
The agency is considering upgrading the rating of Italian bonds and Fitch's verdict arrives on Friday - Btp in partial recovery - China and the rise in oil are giving a hand to the stock exchanges even if the Greek emergency remains…
"In the immediate future, the exit of Athens would cause significant damage to the Greek economy", specifies the rating agency - But the foreseeable devaluation of its new national currency would facilitate the correction of its imbalances.
The rating agency has published its outlook on the global economy: Italian growth is forecast at between -0,5% and +0,5% - Eurozone GDP is estimated at +0,9% on next year.
On the other hand, the B1 ratings of Bpm's senior unsecured securities were confirmed, together with the senior subordinated bonds (B3) and the junior subordinated ones Caa1.
The Ftse Mib has stopped its fall but now the eyes of the market are on the Government's manoeuvre, anticipated by the positive opinion of Moody's - Signals from China: inflation and producer prices slow down - Good results from the big…
This is underlined by a report released by Moody's, which - the agency specifies - does not in any case represent any decision on Italy's creditworthiness (Baa2 with stable outlook) but only an update to the market.
The sudden German slowdown and the collapse in the oil price cause market volatility to soar - Draghi to the governments: "Either carry out the reforms or go home" - Skip the IPOs - In Siena the new international partners in…
Today the stock exchanges will try to rebound but the bear has reappeared on the financial markets for three reasons: the downward estimates of the IMF, the fall of German industry and the Ebola effect on tourism and transport - In the evening the quarterly...
Moody's once again grants Germany the triple A sign, stable outlook. The rating agency underlines the stability and competitiveness of the German nation, but continues to raise alarms about the decline in the workforce and the growth in the average age of the population, which…
The cut in the estimates of the Italian GDP and the forecast of a moderate recession in 2014 by Moody's do not slow down Piazza Affari (+1,4%) also thanks to Wall Street - Banco Popolare Rally but Mps, Mediobanca and Ubi…
The revision was announced by Sarah Carlson, Vice President - Senior Credit Officer of Moody's Investors Service, in an interview with Affaritaliani.it - "We think Italy will miss its GDP targets both in 2014 and 2015".
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 revision by the American agency is due to the fully subscribed 5 billion capital increase - The outlook remains negative: the financial fundamentals "are still vulnerable" and the Bank is still exposed to EBA stress tests - Approved by…
From Standard & Poor's to Moody's, from Euler Hermes to the OECD, financial analysts are in agreement: Brazil will not benefit from the organization of the World Cup and its economy is slowing down sharply - Public spending and inflation are rising, industry and investments remain at a standstill:…
By mid-morning, the Milan Stock Exchange was in negative territory, in line with the other European lists - Waiting for the Moody's rating, which will pronounce itself on Italy only when the markets are closed - Public debt at a new all-time record…
Overall, the review also involved 12 German banks, 10 French, 8 Austrian, 5 Swedish, 3 Dutch, 2 Spanish, one English and 24 from other member states - Among the Germans is Commerzbank and all of the French…
The Paduan eyewear company advances in Piazza Affari thanks to the promotion of the rating by Moody's - The agency's decision to raise the long-term rating to B1 is linked to the lower risk of refinancing the debt of…
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…
Draghi's announcement that the ECB is ready to launch extraordinary measures after the European elections boosts the stock market (+2,3%) - Moody's raises its estimates on Italian GDP and the spread falls below 150 while the BTP…
This is Moody's forecast contained in the Global Macro Outlook 2014-15, in which, however, it is estimated that the unemployment rate will still move in a high range, between 12 and 13%.
Moody's confirmed the long-term ratings on debt and deposits at "Baa2" and the short-term rating "Prime-2" of UniCredit SpA - The outlook remains stable.
The Moody's rating agency yesterday confirmed the long-term ratings on debt and deposits at 'Baa2' and revised the outlook from negative to stable.
At the end of the morning, the yield differential between Italian and German 10-year government bonds stood at 193, very close to the minimum of 2014, which reached 192 basis points at the beginning of January, which in turn…
The Lingotto also specifies that after "the rating downgrading by one notch from Ba3 to B1 with stable outlook communicated by Moody's Investor Services on February 11, there is no obligation to repay the existing debt in advance, nor…
The agency explains that the decision is related to the fact that profitability and cash flow generation by the semiconductor company will recover more slowly than expected in the coming quarters after the phase of operating loss recorded…
The bank's shares are still affected by the downgrade communicated two days ago by Moody's, which downgraded the group's rating from B2 to B3, also lowering the outlook, now negative - According to Equita analysts, moreover, Banca Carige needs…
Stable prospects only for the non-life business, but in general the sector, according to the agency, presents a significant risk of concentration in sovereign bonds and the quality of their assets depends, to a large extent, on the quality of sovereign credit…
Moody's downgraded Seat Pagine Gialle's rating from Ca to C and announced that it will withdraw all ratings on the company - The downgrade to C reflects the agency's thinking: in view of the bad performance…
The four banks downgraded by a notch are JP Morgan, Goldman Sachs, Morgan Stanley and Bank of New York Mellon, while the rating was confirmed for four other giants such as Bank of America, Citigroup, State Street and Wells Fargo.
Positive signals are being received by Moody's, which expects a return to growth in Italy after two years of recession, and by the OECD.
According to the agency, for some Italian banks the examination by the ECB will increase the risk of public interventions - Mediobanca, Mps and Carige are saved from the declines - Fiat heavy after the downgrade of JP Morgan on the sector - Saipem shines in the wake of…
The examination that the ECB will begin in November to test the state of health of 130 European banks will have a negative impact for Italian institutions with weak capital ratios - This is supported by a study by the Moody's rating agency…
The outlook, according to the US rating agency, reflects the persistent fragility of the economic context and the growing problems on the loan front.
Stock up sharply in Piazza Affari after the drop recorded at the start due to the downgrade to junk level by the American rating agency – The company replied to Moody's reiterating that "the group is solid from the point…
According to the American rating agency, our country will not achieve the objective "of bringing the deficit back within the limit of 3% of GDP by 2013" - "Confidence is good", but "political instability remains".
The Telefonica-Telco operation, announced this morning, does not save Telecom Italia from a possible downgrading of the debt to "junk" level by the rating agencies - The spotlights are on the moves of the president Franco Bernabè and on the decisions…
According to press rumors confirmed by the Deputy Minister of the Economy Stefano Fassina, Ansaldo Breda, Ansaldo Energia and Ansaldo Sts could be transferred to CDP through the subsidiary Fintecna, thus creating a transport hub with possible international industrial partners.
The rating was negative since April 2008 - The outlook has improved after a year of relative losses and capital strengthening.
Moody's cut Italcementi's corporate family rating to 'Ba3' and the probability of default rating to 'Ba3-PD', with a stable outlook, and the decision unleashed the wrath of the Italian company: "A hasty decision that does not fully evaluate the ever more tangible…
No rating cuts, for the moment, even if on Friday Moody's had already put the group under observation - To weigh "the lower guidance on 2013 earnings, due to the domestic economic context, competition and regulatory pressure on…
Any downgrade will come after the release of the phone company's second-quarter results, revised guidance and new management forecasts.
The agency also revised the individual "baseline credit assessment" rating from baa3 to baa2, which led to a downgrade of subordinated debt from Baa3 to Ba1 - Negative outlook unchanged.
The rating goes from Baa3 to Ba1 for Campania, Piedmont and Sicily - The rating for Lazio, on the other hand, is reduced by two notches, from Baa3 to Ba2 - The outlook is also negative for all four Regions.
The agency cut the rating of the Italian company from Baa2 to Baa3, maintaining the negative outlook - Moody's recommends that Telecom proceed with the reduction of the debt below 27 billion euros at the end of 2013.
"The company will not reach the targets for 2013", predicts Moody's - In the meantime, expectations are growing for the board of directors scheduled for Thursday 23 May, in which a decision will be made on the spin-off of the network and possible integration with 3 Italia.
The rating agency cut the rating on Bpm by three steps on the long-term debt rating of Bpm, bringing it from Baa3 to Ba3, moreover with a negative outlook.
On a positive day for Piazza Affari, the Mps stock falls, placing it at the bottom of the Ftse Mib list - The Sienese institute pays for the rejection of Moody's which cut the rating from Ba2 to B2.
The rating agency saw net income increase to $188,4 million - Revenues grew 13% to $731,8 million.
Warren Buffet at the beginning of 2009 held 48 million Moody's shares, equal to just over 20% of the capital - In the last two days he sold 1,75 million shares - The sale price was equal to 60…
According to Dietmar Hornung, an analyst at Moody's and responsible for Italy's rating, "the problem is that it will be necessary to verify the mandate of the newly installed executive and therefore its ability to tackle the massive structural reforms that the country would need...
Moody's has decided to downgrade Commerzbank's long-term debt rating from A3 to Baa1 - The low profitability of the stock and weak results weigh on the German bank.
The rating agency Moody's confirmed the Aa3 rating on China's sovereign debt, however cutting the outlook to stable from positive.
The political blackout and the Cyprus effect bring the Italian stock market to its knees, which lost 4,4% in one week (-5,7% since the beginning of the year) while in America S&P and Dow celebrate new records - The downgrading is approaching…
The Nicosia Stock Exchange will also remain closed today and will not reopen until April 12 - There is, however, much anticipation for the reopening of the banks after a XNUMX-day block.
