WASHINGTON | The problem wasn’t just the forced flexibility implied in the S&P models to rate AAA what should had never been awarded top quality grades. The supervisory models themselves were incorrect, to start with.
LONDON | Those regions in Spain and Italy awarded better risk qualifications than their countries as a whole have overcome the latest turmoil in the euro zone without difficulties. Fitch Ratings issued Wednesday a positive comment on the Italian and Spanish subnationals rated above the sovereign. The agency said that their debt and debt service coverage ratios with the operating balance have largely remained in line with those of similarly…
LONDON | It was inevitable. The UK woke up Thursday saddled by a 50/50 chance of losing the maximum award of its national borrowing capabilities. After all, as Santander analysts poke out of Fitch Ratings’ statement over its outlook downgrade of the triple A, which British sovereign bonds still hold, the growing public debt to GDP ratio is set to approach the edge of the top-gun category. The figures came…
