Fitch Ratings
Pakistan raises rates by 300bp as default risks rise
Authorities struggle to collect taxes and unlock IMF funds
El Salvador congress approves use of SDRs for early debt repayment
Talks with IMF stalled as country tackles $24 billion debt load
Bank of Ghana orders 250bp hike
Central bank moves meeting a week earlier to combat high inflation and a weak currency
Saudi sovereign wealth fund gets first-ever credit rating
Public Investment Fund prepares for bond issues and lending initiatives
Mexican inflation rising rapidly, warns deputy governor
Heath says prices increasing at “really phenomenal” rate but expects full pandemic recovery by 2023
ECB’s stress capital buffer still a ‘black box’ – banks
National regulators retain wide latitude to set Pillar 2 Guidance under new rules
Costa Rica makes about-turn on interest rates
Central bank reverses November hike as inflation concerns tip towards the downside
Costa Rica credit rating downgraded two notches amid persistent fiscal deficit
Fitch Ratings revised rating down despite early repayment of central bank and fiscal reforms
Sarb will take ‘defensive posture’ to debt downgrade, says Ballim
South Africa’s central bank is unlikely to respond to country’s junk debt status unless rand volatility starts to affect prices; Fitch joins S&P in downgrading country’s sovereign debt
Rating agencies must report on controls under new SEC rules
Amendments to SEC's credit rating agency rules focus on ensuring robust internal controls and preventing conflicts of interest
Rating agency warns of knock-on effect of Fed’s foreign bank rules
Fitch says tighter rules for foreign banks operating in the US are likely to make other countries raise standards as well, putting a squeeze on the growth of global banks
Nigeria needs more reserves and better inflation controls, says Fitch
Nigeria will need to further increase the size of its foreign exchange reserves and keep inflation in closer check if it wants to secure investment-grade status by 2020, says Fitch
Fitch warns UK over AAA rating
Fitch shifts UK rating outlook to negative; raises expectations for budget announcement later this month
ECB in talks with dealers on buying inflation-linked bonds
Dealers will present their case as to why the ECB should buy linkers as well as nominal bonds in a conference call today
Japan to support EFSF bonds as S&P strips AAA rating
The Japanese government will continue to support bonds issued by the EFSF despite Standard & Poor’s stripping them of their AAA rating; Junker says no indication other rating agencies will follow
Fitch downgrades Hungary credit rating to junk status
Hungary long-term foreign issuer default rating lowered to BB+; outlook remains negative according to rating agency
Yields soar as Portugal is downgraded
Ten-year yield on Portuguese debt rises sharply as Fitch downgrades Portugal's credit rating to junk status, sparking renewed concerns over the sustainability of the sovereign
Fitch reports bright future for Sub-Saharan Africa
Rating agency investigations says outlook for the region is brighter than it has been for decades
Fitch issues stern warning to the US
Affirms AAA rating but says failure to agree on deficit-reduction measures would ‘likely result in negative rating action’
Cyprus edges closer to ‘junk’ rating
Fitch Ratings lowers Cyprus rating to BBB; outlook negative
Last-minute US debt ceiling rise leaves world reeling
Debt ceiling deal will not restore investor confidence immediately; China still looking to diversify reserves away from dollar; credit ratings agencies cautiously affirm top ratings