The US credit rating was downgraded. Here’s what to know
Aug 9, 2023 · The US government's long-term credit rating was downgraded by a leading rating agency in August 2023. Sovereign credit ratings are independent assessments of a government's creditworthiness. Ratings can attract or dissuade investors and influence the cost of borrowing. In early August, Fitch Ratings, a leading credit rating firm, downgraded the ...
The African Union wants to create its own credit rating agency.
Oct 9, 2023 · The African Union plans to create a new sovereign credit rating agency that it says could provide more accurate risk assessments for governments across the continent. The proposal for the new agency, the African Credit Rating Agency (ACRA), was outlined in a recent report by the United Nations Economic Commission for Africa, which claimed that ...
BRICS' New Development Bank turns four: what has it achieved?
Sep 20, 2019 · The New Development Bank obtained a AAA international credit rating from Japan Credit Rating Agency in August 2019, and a AA+ rating in 2018 from Standard & Poor and Fitch respectively. These ratings are considerably above the average for the BRICS countries.
What role did credit ratings play in the 2008 crisis?
Aug 17, 2018 · Financial and Monetary Systems. New evidence on the performance of non-agency residential mortgage-backed securities (RMBS) during the 2007–13 period casts doubt on the ubiquitous claim that the 2008 financial crisis was triggered by over-extension of mortgage credit and a failure of rating agencies to recognize the associated risks to investors.
What is triple-A, and which countries make the grade?
Jul 18, 2016 · There are very few countries that belong to the AAA club. At the moment they are Australia, Canada, Denmark, Germany, Hong Kong, Liechtenstein, Luxembourg, Netherlands, Norway, Singapore, Sweden and Switzerland; and, until very recently, the UK. Hong Kong, which has Special Administrative Region status, has its own credit rating (AAA, from S&P).
How biodiversity loss could cause bankruptcy in some countries
Jul 25, 2022 · However, biodiversity loss has the potential to impact economics, according to a new report from the University of Cambridge. A team of economists has drawn up what it says is the world’s first biodiversity-adjusted sovereign credit ratings. These show how ecological destruction can prompt credit rating downgrades and make borrowing costs spiral.
What are carbon credits and how can they help fight climate …
3 days ago · There are three basic types of carbon credits: Those from reduced emissions (typically energy efficiency measures) Removed emissions (carbon capture and planting forests) And avoided emissions (for example refraining from cutting down rainforests). The cycle, from project development to retirement. Image: Ecosystem Marketplace.
How shifting to green bonds can help shape India's transition
Jul 5, 2022 · A green bond is a fixed-income instrument specifically dedicated to raising money for climate and environmental projects. Green bonds are asset-linked and backed by the issuing entity's balance sheet. They work just like any other corporate or government bond. The first green bond was issued in 2007 by the European Investment Bank, followed by ...
Optimism over US debt ceiling deal and top economy stories
May 19, 2023 · Rating agencies Moody’s, S&P and Fitch have also warned that demographic changes are impacting governments’ credit ratings, The Financial Times reports. Significant policy reforms to address fiscal matters or ageing populations in many nations are needed if government debt is to remain sustainable, according to Marko Mrsnik, Lead Sovereign ...
China’s shifting industries reshape long-term growth model
Jun 28, 2024 · If China gets this right, the IMF has said that its economy could grow faster still, amounting to a 20% expansion of the real economy – adding $3.5 trillion – in the next 15 years. The “if” is the part that is creating short-term concerns, exemplified in rating agency Fitch’s decision in April to downgrade China’s sovereign credit ...