Fitch: More European MMFs Acquire Chinese Bank Exposure
Jun 11, 2015 12:21 pm UTC| Research & Analysis
The number of European money market funds (MMFs) with exposure to Chinese banks has doubled in the last two years, driven by their search for yield and falling short-term issuance from western banks while offshore issuance...
Moody's: Croatia most exposed to euro depreciation; limited impact on the UK and Switzerland
Jun 11, 2015 09:52 am UTC| Research & Analysis
The depreciation of the euro against other currencies is affecting the creditworthiness of some issuers in the rest of Europe, with Croatia-based issuers the most vulnerable to the currency trend and those based in the UK...
Moody's: Limited contagion from Greece shackles euro area financial fragmentation
Jun 11, 2015 07:10 am UTC| Research & Analysis
Rising Greek government bond yields, increased deposit outflows from the countrys banks and wider liabilities in the national central banks transfer system driven by capital flight from Greece fuelled a rise in...
Fitch Publishes Updated Global SF & Covered Bonds Criteria Hierarchy
Jun 10, 2015 20:33 pm UTC| Research & Analysis
Fitch Ratings has published an updated version of its interactive Global Structured Finance (SF) and Covered Bonds (CVB) Rating Criteria Hierarchy. The report enables users to effectively navigate the various criteria...
Moody's: Brazilian government policies will slow BNDES's loan growth
Jun 10, 2015 17:52 pm UTC| Research & Analysis
The decision by the Brazilian government to cut funding to Banco Nacional de Desenvolvimento Econmico e Social (BNDES; Baa2 negative) could hurt the banks asset quality over the short term, but could also result in a...
Fitch: M&A Pace Increases Risk of US Companies Overleveraging
Jun 10, 2015 17:39 pm UTC| Research & Analysis
The breakneck pace of merger and acquisition (MA) activity continues to increase the risk that US companies will overleverage balance sheets and/or miscalculate synergy prospects, according to Fitch Ratings. While MA...
Fitch: U.S. Life Insurers Facing Heated Commercial Mortgage Market
Jun 10, 2015 16:12 pm UTC| Research & Analysis
Investment in mortgages grew 6.0% in 2014 to $350 billion for life insurers in the Fitch Ratings universe, an increase over the prior-year growth rate of 4.4%, according to a new report published by Fitch. While commercial...