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China Gets A Down Grade

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the staff of the Ridgewood blog

Ridgewood NJ, Moody’s issued a warning on China’s credit rating, indicating concerns about the economic impact of bailing out local governments and state-owned enterprises, as well as managing the property crisis in the world’s second-largest economy. The credit rating agency downgraded the ‘outlook’ on China’s A1 debt rating from “stable” to “negative” within a month of a similar move for the United States. Historically, approximately one-third of issuers have experienced downgrades within 18 months of a negative rating outlook.

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Moody’s Downgrades Ratings of 10 U.S. Banks

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the staff of the Ridgewood blog

Ridgewood NJ, bank stocks continue to face a crisis of confidence , on Tuesday after Moody’s Investors Service announced it had downgraded 10 small and midsize American lenders, and that it may do the same with a handful of major firms. Higher funding costs, potential regulatory capital weaknesses and rising risks tied to commercial real estate are among the strains that prompted a review, Moody’s said.

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Moody’s Investor Services Credits New Jersey’s outlook from negative to stable

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the staff of the Ridgewood blog

TRENTON NJ,  State Treasurer Elizabeth Maher Muoio released the following statement on the decision by Moody’s Investor Services to upgrade New Jersey’s outlook from negative to stable due to the better than expected revenue performance in Fiscal Year 2021, and the expectation that large resulting fund balances will support budget flexibility through the coronavirus recovery.

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