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Illustration - Bank

FRANCE. PARIS (75) PLACE LA BOURSE SQUARE. STANDARD AND POOR'S, FITCH RATINGS, MOODY'S AGENCIES PUTTING DOWN FRANCE NOTE (AAA) Photo by Serge Attal/Only France/ABACAPRESS.COM

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Illustration - U.S Credit Rating Agency - NYC

Fitch Rating, S&P Global and Moody's headquarters in New York, NY on March 14, 2025. The three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission. Photo by Charles Guerin/ABACAPRESS.COM

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Illustration - U.S Credit Rating Agency - NYC

Fitch Rating, S&P Global and Moody's headquarters in New York, NY on March 14, 2025. The three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission. Photo by Charles Guerin/ABACAPRESS.COM

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Illustration - U.S Credit Rating Agency - NYC

Fitch Rating, S&P Global and Moody's headquarters in New York, NY on March 14, 2025. The three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission. Photo by Charles Guerin/ABACAPRESS.COM

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Illustration - U.S Credit Rating Agency - NYC

Fitch Rating, S&P Global and Moody's headquarters in New York, NY on March 14, 2025. The three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission. Photo by Charles Guerin/ABACAPRESS.COM

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Illustration - U.S Credit Rating Agency - NYC

Fitch Rating, S&P Global and Moody's headquarters in New York, NY on March 14, 2025. The three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission. Photo by Charles Guerin/ABACAPRESS.COM

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Illustration - U.S Credit Rating Agency - NYC

Fitch Rating, S&P Global and Moody's headquarters in New York, NY on March 14, 2025. The three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission. Photo by Charles Guerin/ABACAPRESS.COM

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Illustration - U.S Credit Rating Agency - NYC

Fitch Rating, S&P Global and Moody's headquarters in New York, NY on March 14, 2025. The three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission. Photo by Charles Guerin/ABACAPRESS.COM

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Illustration - U.S Credit Rating Agency - NYC

Fitch Rating, S&P Global and Moody's headquarters in New York, NY on March 14, 2025. The three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission. Photo by Charles Guerin/ABACAPRESS.COM

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Illustration - U.S Credit Rating Agency - NYC

Fitch Rating, S&P Global and Moody's headquarters in New York, NY on March 14, 2025. The three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission. Photo by Charles Guerin/ABACAPRESS.COM

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Illustration - U.S Credit Rating Agency - NYC

Fitch Rating, S&P Global and Moody's headquarters in New York, NY on March 14, 2025. The three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission. Photo by Charles Guerin/ABACAPRESS.COM

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Illustration - U.S Credit Rating Agency - NYC

Fitch Rating, S&P Global and Moody's headquarters in New York, NY on March 14, 2025. The three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission. Photo by Charles Guerin/ABACAPRESS.COM

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Illustration - U.S Credit Rating Agency - NYC

Fitch Rating, S&P Global and Moody's headquarters in New York, NY on March 14, 2025. The three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission. Photo by Charles Guerin/ABACAPRESS.COM

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Illustration - U.S Credit Rating Agency - NYC

Fitch Rating, S&P Global and Moody's headquarters in New York, NY on March 14, 2025. The three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission. Photo by Charles Guerin/ABACAPRESS.COM

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U.S. debt default crisis becomes political pawn of partisan fight

STORY: U.S. debt default crisis becomes political pawn of partisan fight DATELINE: May 29, 2023 LENGTH: 00:02:10 LOCATION: Washington, D.C. CATEGORY: POLITICS SHOTLIST: 1.various of U.S. President Joe Biden and House Speaker Kevin McCarthy 2. SOUNDBITE 1 (English): JOE BIDEN, U.S. President 3. SOUNDBITE 2 (English): KEVIN MCCARTHY, U.S. House Speaker 4. various of U.S. President Joe Biden and House Speaker Kevin McCarthy 5. SOUNDBITE 3 (English): DAVID A. SUPER, Professor of law and economics, Georgetown University Law Center 6. SOUNDBITE 4 (English): MARK ZANDI, Chief economist, Moody's Analytics 7. SOUNDBITE 5 (English): PETER COHAN, Associate professor of management practice, Babson College 8. SOUNDBITE 6 (English): WENDY EDELBERG, Senior fellow on economic studies, Brookings Institution STORYLINE U.S. White House and Republicans on Saturday reached an "agreement in principle" to raise the debt ceiling to avert a possible default amid deep partisan divide and global concerns. SOUNDBITE 1 (English): JOE

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U.S. President Biden warns of dire consequences of debt default

STORY: U.S. President Biden warns of dire consequences of debt default DATELINE: May 12, 2023 LENGTH: 00:00:40 LOCATION: NEW YORK, the United States CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. SOUNDBITE (English): JOE BIDEN, U.S. President 2. various of the event STORYLINE: U.S. President Joe Biden has warned of the dire consequences of a possible default by the U.S. government on its debt obligation as early as June 1. Speaking at SUNY Westchester Community College in New York on Wednesday, Biden said the U.S. economy would fall into recession with 8 million Americans losing their jobs, and its international reputation would be damaged in the extreme in the case of a debt default. SOUNDBITE (English): JOE BIDEN, U.S. President "America defaults on our debt. Higher interest rates for credit cards, car loans, mortgages, payments for social security, medicare. Our troops, and veterans could all be halted or delayed. According, again, to Moody's, 8 million Americans would lose their jobs, including 400,000 New

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U.S. regional bank failures evoke unease in banking sector

STORY: U.S. regional bank failures evoke unease in banking sector DATELINE: March 16, 2023 LENGTH: 00:01:37 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of the exterior of New York Stock Exchange Silicon Valley Bank 2. various of the exterior of Credit Suisse 3. various of screenshots of Moody's report 4. various of Silicon Valley Bank 5. various of Signature Bank 6. various of street scenes in U.S. 7. SOUNDBITE 1 (Turkish): MURAT TUFAN, Analyst with Turkish broadcaster Ekoturk 8. SOUNDBITE 2 (English): XN IRAKI, Kenyan economist STORYLINE: U.S. and European stocks plunged on Wednesday, as turbulence at Credit Suisse renewed fears of a banking crisis. Banking giant Credit Suisse lost nearly a fourth of its value Wednesday, amid the growing fallout from the collapse of two regional banks in the United States. Rating agency Moody's has slashed its outlook on the entire U.S. banking system to negative in the wake of failures at the Silicon Valley Bank (SVB) and Signature Bank (SNY). Experts hav

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Moody's downgrades outlook on U.S. banking system to negative

STORY: Moody's downgrades outlook on U.S. banking system to negative DATELINE: March 15, 2023 LENGTH: 00:01:01 LOCATION: NEW YORK, U.S. CATEGORY: ECONOMY SHOTLIST: 1. various of banks in the U.S. STORYLINE: Rating agency Moody's slashed its outlook on the entire U.S. banking system to negative in the wake of recent bank turmoil in the country. Moody's said the move was made to "reflect the rapid deterioration in the operating environment following deposit runs at Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank (SNY) and the failures of SVB and SNY." Although U.S. authorities have stepped in to shore up deposits at SVB and SNY to restore confidence in the banking system, the rating firm said other institutions with unrealized losses or uninsured depositors still could be at risk. Moody's said it expects pressure on the U.S. banking sector to persist as the Federal Reserve continues to hike interest rates to combat inflation. The firm also projected the U.S. economy to fall into recession

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Moody's downgrades Egypt's ratings to B3, changes outlook to stable

STORY: Moody's downgrades Egypt's ratings to B3, changes outlook to stable DATELINE: Feb. 9, 2023 LENGTH: 00:00:46 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the central bank of Egypt 2. various of vessels in Egypt 3. various of a fuel station in Egypt STORYLINE: Moody's Investors Service lowered Egypt's long-term foreign-currency and local-currency issuer ratings to B3 from B2. In its ranking report published on Tuesday, Moody's also changed outlook to "stable from negative." The report cited that the downgrade to B3 reflects Egypt's reduced external buffers and shock absorption capacity while the economy undergoes a structural change toward a more export- and private sector-led growth model under a flexible exchange rate regime. The International Monetary Fund (IMF) approved a three-billion U.S. dollar financial support package to Egypt in December 2023 amid a commitment to flexible currency and monetary reforms. Over the past year, the Egyptian currency had depreciated by nearly 50 pe

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Mexico's economy grows 3 pct in 2022: report

STORY: Mexico's economy grows 3 pct in 2022: report DATELINE: Feb. 1, 2023 LENGTH: 00:01:31 LOCATION: Mexico City CATEGORY: ECONOMY SHOTLIST: 1. various of Mexico City STORYLINE: The Mexican economy expanded by 3 percent in 2022, thanks to its three major productive sectors, the National Institute of Statistics and Geography said in a preliminary report Tuesday. The figure represented a deceleration compared to the 4.7-percent growth in 2021. By sector, industrial activity grew by 3.2 percent in 2022, followed by 3 percent in the agricultural sector, and 2.7 percent in the service sector which has the highest GDP contribution, according to the statistics agency. In a separate report, Alfredo Coutino, head of Latin America economic research at Moody's Analytics, said Mexico continued to benefit from exports to the U.S. market, as well as income from tourism and remittances, which reached an all-time high last year. However, the outlook for 2023 faces significant issues such as an economic sl

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Moody's cuts rating on Japan sovereign debt by 1 notch

TOKYO, Japan - Thomas Byrne, a senior vice president of Moody's Investors Service Inc., holds a press conference in Tokyo on Dec. 1, 2014, after the U.S. rating agency revised downward its credit rating on Japanese sovereign bonds by one notch to A1 from Aa3 with stable outlook, citing uncertainty over the nation's ability to restore its fiscal health.

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Moody's analyst Byrne

TOKYO, Japan - Thomas Byrne, an analyst at Moody's Investors Service Inc., speaks about the rating agency's downgrade of Japan's debt at a press conference in Tokyo on Aug. 24, 2011.

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Japan gov't debt downgraded

TOKYO, Japan - Japanese Finance Minister Yoshihiko Noda answers reporters' questions about the downgrading of Japan's government debt at the Finance Ministry in Tokyo on Aug. 24, 2011. Moody's Investors Service Inc. said the same day it has downgraded its credit rating for Japanese government bonds by one notch from Aa2 to Aa3.

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Japan gov't debt downgraded

TOKYO, Japan - Japanese Prime Minister Naoto Kan enters the prime minister's office in Tokyo on Aug. 24, 2011. Moody's Investors Service Inc. said the same day it has downgraded its credit rating for Japanese government bonds by one notch from Aa2 to Aa3. ''Over the past five years, frequent changes in administrations have prevented the government from implementing long-term economic and fiscal strategies into effective and durable policies,'' the U.S. rating agency said in its report.

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U.S.-CHICAGO-BLACK FRIDAY-SHOPPING

(221125) -- CHICAGO, Nov. 25, 2022 (Xinhua) -- A man tries on a jacket at a store during Black Friday sales at Chicago Fashion Outlets in Chicago, the United States, on Nov. 25, 2022. On average, American households are spending 433 U.S. dollars more per month to purchase the same items they did at the same time last year, an analysis by Moody's Analytics found. The analysis looked at October inflation data, as the United States sees the worst inflation in 40 years. (Photo by Joel Lerner/Xinhua)

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U.S.-CHICAGO-BLACK FRIDAY-SHOPPING

(221125) -- CHICAGO, Nov. 25, 2022 (Xinhua) -- People line up for the opening of Black Friday sales at a Walmart store in Skokie in northern suburbs of Chicago, the United States, on Nov. 25, 2022. On average, American households are spending 433 U.S. dollars more per month to purchase the same items they did at the same time last year, an analysis by Moody's Analytics found. The analysis looked at October inflation data, as the United States sees the worst inflation in 40 years. (Photo by Joel Lerner/Xinhua)

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U.S.-CHICAGO-BLACK FRIDAY-SHOPPING

(221125) -- CHICAGO, Nov. 25, 2022 (Xinhua) -- People are seen during Black Friday sales at Chicago Fashion Outlets in Chicago, the United States, on Nov. 25, 2022. On average, American households are spending 433 U.S. dollars more per month to purchase the same items they did at the same time last year, an analysis by Moody's Analytics found. The analysis looked at October inflation data, as the United States sees the worst inflation in 40 years. (Photo by Joel Lerner/Xinhua)

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U.S.-CHICAGO-BLACK FRIDAY-SHOPPING

(221125) -- CHICAGO, Nov. 25, 2022 (Xinhua) -- People walk with shopping bags during Black Friday sales at Chicago Fashion Outlets in Chicago, the United States, on Nov. 25, 2022. On average, American households are spending 433 U.S. dollars more per month to purchase the same items they did at the same time last year, an analysis by Moody's Analytics found. The analysis looked at October inflation data, as the United States sees the worst inflation in 40 years. (Photo by Joel Lerner/Xinhua)

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U.S.-CHICAGO-BLACK FRIDAY-SHOPPING

(221125) -- CHICAGO, Nov. 25, 2022 (Xinhua) -- People look at handbags at a store during Black Friday sales at Chicago Fashion Outlets in Chicago, the United States, on Nov. 25, 2022. On average, American households are spending 433 U.S. dollars more per month to purchase the same items they did at the same time last year, an analysis by Moody's Analytics found. The analysis looked at October inflation data, as the United States sees the worst inflation in 40 years. (Photo by Joel Lerner/Xinhua)

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U.S.-CHICAGO-BLACK FRIDAY-SHOPPING

(221125) -- CHICAGO, Nov. 25, 2022 (Xinhua) -- A shopper looks at bags during Black Friday sales at Chicago Fashion Outlets in Chicago, the United States, on Nov. 25, 2022. On average, American households are spending 433 U.S. dollars more per month to purchase the same items they did at the same time last year, an analysis by Moody's Analytics found. The analysis looked at October inflation data, as the United States sees the worst inflation in 40 years. (Photo by Joel Lerner/Xinhua)

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U.S.-LOS ANGELES-BLACK FRIDAY-SHOPPING

(221125) -- LOS ANGELES, Nov. 25, 2022 (Xinhua) -- People shop at a store during Black Friday in Los Angeles, California, the United States, on Nov. 25, 2022. On average, American households are spending 433 U.S. dollars more per month to purchase the same items they did at the same time last year, an analysis by Moody's Analytics found. The analysis looked at October inflation data, as the United States sees the worst inflation in 40 years. (Xinhua)

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U.S.-LOS ANGELES-BLACK FRIDAY-SHOPPING

(221125) -- LOS ANGELES, Nov. 25, 2022 (Xinhua) -- People wait in line outside a store during Black Friday in Los Angeles, California, the United States, on Nov. 25, 2022. On average, American households are spending 433 U.S. dollars more per month to purchase the same items they did at the same time last year, an analysis by Moody's Analytics found. The analysis looked at October inflation data, as the United States sees the worst inflation in 40 years. (Xinhua)

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U.S.-LOS ANGELES-BLACK FRIDAY-SHOPPING

(221125) -- LOS ANGELES, Nov. 25, 2022 (Xinhua) -- People shop at a store during Black Friday in Los Angeles, California, the United States, on Nov. 25, 2022. On average, American households are spending 433 U.S. dollars more per month to purchase the same items they did at the same time last year, an analysis by Moody's Analytics found. The analysis looked at October inflation data, as the United States sees the worst inflation in 40 years. (Xinhua)

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U.S.-LOS ANGELES-BLACK FRIDAY-SHOPPING

(221125) -- LOS ANGELES, Nov. 25, 2022 (Xinhua) -- People shop at a store during Black Friday in Los Angeles, California, the United States, on Nov. 25, 2022. On average, American households are spending 433 U.S. dollars more per month to purchase the same items they did at the same time last year, an analysis by Moody's Analytics found. The analysis looked at October inflation data, as the United States sees the worst inflation in 40 years. (Xinhua)

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U.S.-LOS ANGELES-BLACK FRIDAY-SHOPPING

(221125) -- LOS ANGELES, Nov. 25, 2022 (Xinhua) -- People wait in line outside a store during Black Friday in Los Angeles, California, the United States, on Nov. 25, 2022. On average, American households are spending 433 U.S. dollars more per month to purchase the same items they did at the same time last year, an analysis by Moody's Analytics found. The analysis looked at October inflation data, as the United States sees the worst inflation in 40 years. (Xinhua)

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Moody's slashes India's economic growth forecast to 7.7 percent for 2022

STORY: Moody's slashes India's economic growth forecast to 7.7 percent for 2022 DATELINE: Sept. 2, 2022 LENGTH: 00:01:40 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of the market area 3. various of supermarket 4. various of fuel station STORYLINE: The U.S.-based credit rating agency Moody's on Thursday slashed India's economic growth projection for the year 2022 to 7.7 percent, from its earlier estimate of 8.8 percent. It also said that India's growth rate would further decelerate to 5.2 percent in 2023. "Our expectation that India's real GDP growth will slow from 8.3 percent in 2021 to 7.7 percent in 2022, and to decelerate further to 5.2 percent in 2023 assumes that rising interest rates, uneven distribution of monsoons, and slowing global growth will dampen economic momentum on a sequential basis," Moody's said in its Global Macro Outlook 2022-23. It added "A quicker let-up in global commodity prices would provide significant upside to growth. In addition, econ

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Moody's lowers India's 2022 growth projection to 8.8 pct

STORY: Moody's lowers India's 2022 growth projection to 8.8 pct DATELINE: May 27, 2022 LENGTH: 00:01:47 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of fuel station 3. various of people taking fuel into his vehicle 4. various of grocery super market 5. various of food item 6. various of wholesale market 7. various of traffic STORYLINE: Global credit rating agency Moody's on Thursday slashed India's economic growth projection to 8.8 percent for 2022 from its earlier projection of 9.1 percent, citing high inflation as the main reason. It said that the growth momentum at the end of 2021 had carried through into the first four months of this year. "However, the rise in crude oil, food and fertilizer prices will weigh on household finances and spending in the months ahead. Rate hike to prevent energy and food inflation from becoming more generalized will slow the demand recovery's momentum," it said in a statement. Moody's added that it has maintained the 2023 growth fo

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Indian heatwave may hit wheat output, inflation, growth: Moody's growth

STORY: Indian heatwave may hit wheat output, inflation, growth: Moody's DATELINE: May 24, 2022 LENGTH: 00:01:59 LOCATION: New Delhi CATEGORY: SOCIETY SHOTLIST: 1. various of India gate 2. various of wheat farming field 3. various of farmers working in the field 4. various of crop harvesting 5. various of wheat 6. various of Reserve Bank of India building STORYLINE: The prevailing heatwave in India, particularly in the north, west and central parts, might lead to a curb in the yield of wheat crops, besides contributing to inflation and adversely affecting the overall growth, the Moody's rating agency said in a report on Sunday. Notably, the major wheat-growing states in India are Punjab, Haryana, Rajasthan, Madhya Pradesh and parts of Uttar Pradesh. Over the past couple of weeks, mercury in these states has risen to over 45 degrees Celsius, thus throwing normal life out of gear as people keep themselves indoors, particularly during the daytime. Due to the prevailing heatwave in north and western

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Moody's slashes India's 2022 growth estimate to 9.1 pct

STORY: Moody's slashes India's 2022 growth estimate to 9.1 pct DATELINE: March 18, 2022 LENGTH: 00:02:01 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of government buildings 3. various of crop harvesting and grain 4. various of fuel station 5. various of traffic STORYLINE: Global rating agency Moody's Thursday slashed India's growth estimate for the current year to 9.1 percent, down from 9.5 percent earlier, saying high fuel and fertilizer import bill could limit the government's capital expenditure. According to the rating agency, India is particularly vulnerable to high oil prices, given that it is a large importer of crude oil. However, it said that as India is a surplus producer of grain, the country's agricultural exports will benefit in the short-term from high prevailing prices. "High fuel and potentially fertilizer costs would weigh on government finances down the road, potentially limiting planned capital spending," Moody's said. "For all of these reasons

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Moody's analyst Byrne

TOKYO, Japan - Thomas Byrne, an analyst at Moody's Investors Service Inc., speaks about the rating agency's downgrade of Japan's debt at a press conference in Tokyo on Aug. 24, 2011. (Kyodo)

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Japan gov't debt downgraded

TOKYO, Japan - Japanese Prime Minister Naoto Kan enters the prime minister's office in Tokyo on Aug. 24, 2011. Moody's Investors Service Inc. said the same day it has downgraded its credit rating for Japanese government bonds by one notch from Aa2 to Aa3. ''Over the past five years, frequent changes in administrations have prevented the government from implementing long-term economic and fiscal strategies into effective and durable policies,'' the U.S. rating agency said in its report. (Kyodo)

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Japan gov't debt downgraded

TOKYO, Japan - Japanese Finance Minister Yoshihiko Noda answers reporters' questions about the downgrading of Japan's government debt at the Finance Ministry in Tokyo on Aug. 24, 2011. Moody's Investors Service Inc. said the same day it has downgraded its credit rating for Japanese government bonds by one notch from Aa2 to Aa3. (Kyodo)

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Moody's cuts rating on Japan sovereign debt by 1 notch

TOKYO, Japan - Thomas Byrne, a senior vice president of Moody's Investors Service Inc., holds a press conference in Tokyo on Dec. 1, 2014, after the U.S. rating agency revised downward its credit rating on Japanese sovereign bonds by one notch to A1 from Aa3 with stable outlook, citing uncertainty over the nation's ability to restore its fiscal health. (Kyodo)

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AIIB headquarters

A horse-drawn cart passes by the construction site of the Asian Infrastructure Investment Bank headquarters in Beijing on Jan. 15, 2018. The bank, which has earned a top credit rating from Moody's, marked two years since the start of operations on Jan. 16. (Kyodo) ==Kyodo

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AIIB headquarters

People pass by the construction site of the Asian Infrastructure Investment Bank headquarters in Beijing on Jan. 15, 2018. The bank, which has earned a top credit rating from Moody's, marked two years since the start of operations on Jan. 16. (Kyodo) ==Kyodo