Free Republic 3rd Quarter Fundraising Target: $88,000 Receipts & Pledges to-date: $45,191
51%  
Woo hoo!! And we're now over 51%!! Thank you all very much!! God bless.

Keyword: downgrade

Brevity: Headers | « Text »
  • I-69 construction woes lead to another bond downgrade

    10/11/2016 1:03:45 AM PDT · by Tolerance Sucks Rocks · 15 replies
    Indiana Business Journal ^ | September 20, 2016 | Susan Orr
    Continuing delays on the construction of Interstate 69 between Bloomington and Martinsville have led to another ratings downgrade on the bonds issued to help finance the project. Standard & Poor’s has lowered its rating from BB+ to BB- on $244 million in bonds issued by the Indiana Finance Authority in 2014 for the interstate project. “The rating action reflects our view of increased construction risk at the project, which is eight months behind schedule and about 56 percent complete,” S&P Global Ratings credit analyst Tony Bettinelli said in the ratings agency’s statement on the downgrade last week. The 21-mile project,...
  • Moodys downgrades Chicago schools, park district ratings

    05/13/2015 9:43:58 PM PDT · by Olog-hai · 8 replies
    Associated Press ^ | May 13, 2015 7:43 PM EDT
    Moodys Investors Service downgraded the debt of both the Chicago Public Schools and the Chicago Park District on Wednesday, a day after it downgraded the citys bond rating to junk status. Moodys has given a Ba3 rating to the school districts debt, down from a Baa3 rating, saying the district faces increased strain on its precarious financial position due to last weeks Illinois Supreme Court decision overturning state pension reform. It reduced the Chicago Park Districts rating to from Baa1 to Ba1, one notch below investment grade. The rating services moves affect the school districts $6.2 billion in general obligation...
  • Rahm Emanuel's Chicago Nears Fiscal Free Fall

    03/02/2015 4:01:35 PM PST · by raptor22 · 47 replies
    Investor's Business Daily ^ | March 2, 2015 | IBD EDITORIALS
    ities: The problem with socialism, Margaret Thatcher once noted, is you eventually run out of other people's money. In progressive Chicago, that's hit home as Moody's has cut its credit rating to two grades above "junk." Chicago's finances are staggering under the weight of an unfunded pension liability that Moody's Investors Service has estimated at $32 billion, eight times the city's operating revenue. Chicago has a $300 million structural deficit. And Illinois law requires the city to up its 2016 contributions to its police and fire pension funds by $550 million. "This is an unfortunate wake-up call for anyone still...
  • Moody's downgrades Japan as concerns grow

    12/01/2014 5:22:21 AM PST · by Enlightened1 · 2 replies
    CNBC ^ | 12/01/14
    Fears over the future of Japan's economy are growing and Moody's, the credit ratings agency, reflected this on Monday by cutting its credit rating to A1 from AA3. The news came just after the country's main stock market, the Nikkei, closed at a seven-year high.
  • How Kevin McCarthy Lost GOP Seats in CA

    We are always told by the establishment that conservatives are causing them to lose seats in Congress. The reality is that the ineptitude of GOP leaders is whats causing us to lose seats. There is a little noticed pattern that has emerged from redistricting. Almost every state that had a nonpartisan commission draw the new district lines eliminated Republican seats. The worst example was in California where Republican activists warned leaders that the commissions map would cost us 4 seats. It happens to be that Majority Whip Kevin McCarthy is ostensibly the leader of the CA GOP delegation. It turns...
  • Brooklyn Man Charged with 5 Attacks on Jewish Women

    01/05/2014 1:46:57 PM PST · by Eleutheria5 · 33 replies
    Arutz Sheva ^ | 5/1/14 | Gil Ronen
    A Brooklyn man named Barry Baldwin, 35, has been arrested and charged with five incidents in which Jewish women were viciously punched for no apparent reason. The incidents are seen as being connected to a sadistic game called the knockout game, which involves targeting unsuspecting victims on the street and knocking them out with a sucker punch. Police picked up Baldwin last week, and originally connected him to six incidents and charged him with six hate crimes because he targeted Jewish victims, sources told the Daily News. For some reason, the charges were later downgraded to assaults without a hate...
  • S&P downgrades European Union's credit rating

    12/20/2013 6:35:42 AM PST · by Starboard · 6 replies
    http://www.marketplace.org/ ^ | December 20, 2013 | Nigel Cassidy, Marketplace Morning Report
    European leaders meeting in Brussels for a summit on banking rules got some bad news this morning. The Standard and Poor's credit rating agency announced that it is stripping the entire European Union of its AAA rating.
  • Fitch downgrades Chicago bond ratings: Downgrades Chicago bonds based on pension crisis

    11/13/2013 9:24:13 AM PST · by SeekAndFind · 6 replies
    Finance ^ | 11/13/2013
    SPRINGFIELD, Ill. (AP) -- Fitch Ratings has downgraded the credit worthiness of Chicago's bond debt because of its public pension problems. Fitch dropped the rating from AA- to A- on $8 billion in general obligation bonds, backed by property taxes. It also dropped the rating on $497 million in sales tax bonds paid for by both the city's local sales tax and its share of the state sales tax.
  • Fitch warns it may downgrade US over debt standoff

    01/15/2013 3:00:23 PM PST · by SeekAndFind · 4 replies
    Yahoo News ^ | 01/15/2013 | PAN PYLAS
    The United States could lose its top credit rating for the second time from a leading agency if there's a delay in raising the country's debt ceiling, Fitch Ratings warned Tuesday. Congress has to increase the country's debt limit, which effectively rules how much debt the U.S. can have, by the end of February or face a potential default, Fitch says. There are fears that the debate will descend into the sort of squabbling and political brinkmanship that marked the last effort to raise the ceiling in the summer of 2011. Outgoing U.S. Treasury Secretary Timothy Geithner warned then that...
  • TIMOTHY GEITHNER LEAVING BEFORE DEBT CEILING DEAL IS DONE BECAUSE HE NEVER REALLY CARED ANYWAYS

    01/03/2013 12:39:37 PM PST · by Fred · 9 replies
    ScrapeTv ^ | 010313 | Edward Bastil, Political Correspondent
    Washington, D.C. It is possible, possible, that the massive shuffling of Cabinet positions for president Obama will have a positive effect on his next four years in office. With so many people leaving the make-up of the team that led to a lot of mediocrity and divisiveness will be fundamentally altered.timothy geithner leaving obama administration Some of those changes, say Secretary of State, clearly trade one strong player for another but in other places the changeover will not be as smooth or as clearly good. There is, perhaps, no position more important in all of this than the change...
  • Moody's revises Illinois outlook to negative on pensions

    12/14/2012 5:37:16 AM PST · by haffast · 3 replies
    Reuters ^ | updated 12/13/2012 8:21:24 PM ET | Karen Pierog
    CHICAGO (Reuters) - Illinois' public pension funding problems, likely to persist if not worsen, led Moody's Investors Service on Thursday to revise the state's credit outlook to negative from stable, putting more pressure on state lawmakers to act. Illinois' finances are buckling under a $96.8 billion unfunded pension liability while Governor Pat Quinn and various state lawmakers are pushing to get various reform measures passed by the legislature in early January. But Moody's, which affirmed Illinois' A2 rating, said the passage of any reforms stands a good chance of being challenged in court on the basis of strong state constitutional...
  • Fiscal Cliff Debate Is About Size of Government, Not Taxing "the Rich" Thomas Sowell

    12/04/2012 7:22:09 AM PST · by Fred · 9 replies
    real clear pols ^ | 120412 | Thomas Sowell
    Amid all the political and media hoopla about the "fiscal cliff" crisis, there are a few facts that are worth noting. First of all, despite all the melodrama about raising taxes on "the rich," even if that is done it will scarcely make a dent in the government's financial problems. Raising the tax rates on everybody in the top two percent will not get enough additional tax revenue to run the government for ten days. And what will the government do to pay for the other 355 days in the year? All the political angst and moral melodrama about getting...
  • Spain downgraded by S&P (heading towards "junk" status)

    10/10/2012 4:32:09 PM PDT · by Signalman · 2 replies
    CNNMoney ^ | 10/10/2012 | Ben Rooney
    Standard & Poor's lowered its credit rating for Spain on Wednesday, in a move that could complicate Madrid's effort to avoid requesting a financial bailout. S&P cut Spain's long-term credit rating two notches to "BBB-" from "BBB+," the ratings agency said in a statement. It also lowered the nation's short-term rating and said the long-term outlook for Spain is negative, meaning it could lower the rate further. The move reflects the risk of "increasing social discontent" as the Spanish economy slips deeper into recession, according to S&P. It also warned of "rising tensions" between the central government and Spain's semi-autonomous...
  • Polls Show Erosion of U.S. Image Abroad Over the Past Four Years

    09/18/2012 6:29:19 PM PDT · by Olog-hai · 12 replies
    Cybercast News Service ^ | September 18, 2012 | Patrick Goodenough
    The last four years have witnessed a decline in the image of the United States around the world, and President Obamas approval rating has also taken a hit in some regions abroad, according to a series of polls this year. The survey results call into question the assertion, touted by administration officials and echoed in much media reporting, that Obamas foreign policy has been an unqualified success and that his engagement with the international community, especially through the United Nations, has boosted Americas image significantly. Particularly striking in some of the polls is the negative trend in key Islamic countries,...
  • BREAKING: Egan Jones Downgrades US From AA To AA-

    09/14/2012 12:32:42 PM PDT · by tcrlaf · 46 replies
    Zerohedge ^ | 10-14-12 | Egan-Jones via Zerohedge
    From Egan Jones: Synopsis: UNITED STATES (GOVT OF) EJR Sen Rating(Curr/Prj) AA-/ N/A Rating Analysis - 9/14/12 EJR CP Rating: A1+ Debt: $15.2B EJR's 1 yr. Default Probability: 1.2% Up, up, and away - the FED's QE3 will stoke the stock market and commodity prices, but in our opinion will hurt the US economy and, by extension, credit quality. Issuing additional currency and depressing interest rates via the purchasing of MBS does little to raise the real GDP of the US, but does reduce the value of the dollar (because of the increase in money supply), and in turn increase...
  • Moodys Text: To Downgrade US If No Deal To Cut Debt/GDP Ratio

    09/11/2012 9:54:40 AM PDT · by RoosterRedux · 6 replies
    forexlive.como ^ | 9/11/2012 | Market News International
    The following is the text of a statement Tuesday by rating agency Moodys: Budget negotiations during the 2013 Congressional legislative session will likely determine the direction of the US governments Aaa rating and negative outlook, says Moodys Investors Service in the report Update of the Outlook for the US Government Debt Rating. If those negotiations lead to specific policies that produce a stabilization and then downward trend in the ratio of federal debt to GDP over the medium term, the rating will likely be affirmed and the outlook returned to stable, says Moodys. If those negotiations fail to produce such...
  • MOODY'S THREATENS TO CUT USA RATING WITHOUT DEAL TO CUT DEBT/GDP

    09/11/2012 6:49:26 AM PDT · by blam · 12 replies
    TBI ^ | 9-11-2012 | Sam Ro
    MOODY'S THREATENS TO CUT USA RATING WITHOUT DEAL TO CUT DEBT/GDP Sam RoSeptember 11, 2012Moody's is warning that it may cut the US government's credit rating from the Aaa to Aa1 if it is unable to negotiate a deal to materially reduce its federal debt to GDP ratio. Here's the annoucnement from Moody's: ------------------- Moody's issues update on the outlook for the US government's debt rating: Budget negotiations key Global Credit Research - 11 Sep 2012 New York, September 11, 2012 -- Budget negotiations during the 2013 Congressional legislative session will likely determine the direction of the US government's Aaa...
  • Illinois' credit rating downgraded after pension reform failure

    08/30/2012 5:26:52 AM PDT · by Zakeet · 24 replies
    Chicago Tribune ^ | August 30, 2012 | Monique Garcia
    Illinois' credit rating was downgraded by Standard & Poor's on Wednesday, a move that came after Gov. Pat Quinn's inability to persuade lawmakers to cut costs in the state's debt-ridden public employee pension system. The agency lowered the state's credit rating from A+ to A, citing a "lack of action" on changes aimed at decreasing the pension system's unfunded liability, which could hit $93 billion by next summer if nothing is done. Standard & Poor's also gave Illinois a "negative outlook," saying the state's budget future remains uncertain. It's unclear what impact the new rating will have on Illinois' pocketbook,...
  • A Downgrade for Illinois-The worst credit rating aside from California

    08/30/2012 5:00:43 AM PDT · by TurboZamboni · 10 replies
    In recent years a wave of new reform Governors has washed over the Midwest, but it did skip a few states. Among them is Illinois, which now has the worst credit rating of any state besides California. Voters may want to pay attention. On Tuesday, Standard & ...
  • Stocks fall off a cliff as Moody's downgrades 15 international banks

    06/22/2012 6:37:17 AM PDT · by SeekAndFind · 13 replies
    American Thinker ^ | 06/22/2012 | Rick Moran
    Moody's Investor Service cut the credit rating of the 6 largest US banks with international arms. In anticipation of this, and on general economic jitters, stocks tanked 251 points in the second worst day of trading this year. The downgrade of US banks reflects growing concern about the global economy and the exposore of US companies to the european debt crisis. Wall Street Journal: The Moody's Corp. unit reduced Morgan Stanley's rating to Baa1, which is three notches above the junk, or noninvestment grade, status that many bond buyers avoid. The move stands to add to the company's borrowing costs...