Moody's: Greek Covered Bonds Have Protective Measures Against Redenomination, But Their Effectiveness is Uncertain

Apr 30, 2015 13:20 pm UTC| Research & Analysis

If Greece (Caa2 negative) were to exit the euro, Greek covered bonds applicable law would protect investors insofar as they are still likely to receive payments in euros, says Moodys Investors Service. However, in the...

Fitch: EU Bank Bail-In Rules May Change Short-Term Investor Behaviour

Apr 30, 2015 12:44 pm UTC| Research & Analysis

EU bank short-term (ST) debt is as vulnerable to bail-in as long-term debt in the event of bank resolution, says Fitch Ratings. This could lead to ST investors changing their behaviour, preferring exposure to EU operating...

Moody's: Impact of Greek exit from euro area should not be underestimated

Apr 30, 2015 09:22 am UTC| Research & Analysis

The direct economic and financial impact of a Greek exit from the euro area would be small, but an exit would undermine the euro areas longer-term resilience somewhat and could yet trigger a more immediate confidence...

Fitch: No Impact on Japanese SF Ratings from Sovereign Downgrade

Apr 30, 2015 07:46 am UTC| Research & Analysis

Fitch Ratings says that the recent downgrade of Japans sovereign rating to A with Stable Outlook from A+ on Rating Watch Negative has no impact on any of the public ratings of Fitch-rated structured finance (SF)...

Fitch: US Rate Rise Risks to Large EMs Shift Since Taper Tantrum

Apr 30, 2015 04:06 am UTC| Research & Analysis

Several large emerging markets remainvulnerable to US monetary tightening two years after the "Taper Tantrum", butshifts in macroeconomic backdrops and policy trends have helped relativevulnerabilities diverge, Fitch...

Moody's downgrades Greece's government bond rating to Caa2 from Caa1; outlook negative

Apr 30, 2015 03:49 am UTC| Research & Analysis

Global Credit ResearchMoodys Investors Service has today downgraded Greeces government bond rating to Caa2 from Caa1. The short-term rating is unaffected by this rating action and remains at Not Prime(NP).The outlook on...

Fitch: Nordic Banks' Wholesale Funding Stable But Not Risk Free

Apr 29, 2015 13:44 pm UTC| Research & Analysis

Nordic banks reliance on wholesale funding exposes them to risks, but these are not a major threat to their credit quality, Fitch Ratings says. The risks are mitigated by deep and liquid domestic debt capital markets, the...