Financial Institutions

Highlights

• 21 May 2013
  • MBIA’s ratings upgraded, National Public Finance to Baa1 and MBIA Corp. to B3
    Our upgrades include the Insurance Financial Strength rating of MBIA Corp. to B3 and National Public Finance Guarantee Corp. to Baa1, and the senior debt rating of MBIA Inc., the group’s ultimate holding company, to Ba3. The action reflects the recent settlements with various counterparties, which have improved MBIA’s credit profile. The action also has implications for transactions wrapped by the MBIA group… Press Release l Affected Ratings
• 13 May 2013
  • Update to Global Macro Outlook 2013-14
    Over the past three months, the global economy has lost momentum as it recovers from last year’s slowdown. Overall, we expect real GDP growth in the G-20 advanced economies of around 1.2% during 2013, a little weaker than previously forecast, followed by 1.9% in 2014. We continue to expect the G-20 emerging economies to outpace advanced G-20 members... Full Report
  • China's shadow banking continues to weigh on banks' credit profiles
    China's latest regulatory steps to tighten controls on wealth management products, part of China's shadow banking market, are credit positive for banks. However, the ultimate impact from shadow banking on banks will depend on amount, timing and allocation of potential losses, variables that are difficult to assess at this point, given the lack of transparency and the fast-evolving nature of the system... Press Release l Full Report​​​