Senior Unsecured MTN, Downgraded to (P)Baa1 from (P)A3; Placed Under Review for further
DowngradeThe review for
downgrade on the issuers' A3 ratings will assess the credit implications of (1) the conclusion of the review for
downgrade on Oman's government bond rating; (2) Omani government support and dependence assumptions; and (3) the impact of a weakening economic environment on business profiles given continued low oil prices which could pressure Baseline Credit Assessments (BCA).
Egypt's ability to continue to attract investment, he said, was also one of the most important factors contributing to Fitch's decision to
downgrade the country's credit rating.
Consequently, Japanese shares have been hobbled by the successive
downgrades in tech stocks.
(i) The potential downwards change in Moody's affiliate support assumptions for UAB and NBO that could result from a
downgrade in CBQK's BCA, and
A number of banks have stated that they consider themselves Egypt's most affected economic sector by the country's repeated credit
downgrades since the outbreak of the 25 January Revolution, seeing as they are the primary owners of government debt securities.
The
downgrade of Bradesco Seguros' IFS rating results from the
downgrade of the long-term Local Currency IDR of its parent Banco Bradesco S.A.
Today's rating action was solely prompted by Moody's decision to
downgradeToday's rating actions reflect (1) the Egyptian government's reduced capacity to support the banks, which has primarily affected the state-owned banks (National Bank of Egypt, Banque Misr and Banque du Caire); (2) the high credit linkages between the banks' balance sheets and sovereign credit risk, which constrains the banks' baseline credit assessments at the level of the C1 rated government; and (3) the
downgrade of Egypt's foreign currency deposit ceiling to C2, which has affected the foreign currency deposit ratings of all rated banks.
These rating actions complete the review for possible
downgrade, which Moody's started on 25 March 2011, and follow Moody's decision from Tuesday to reduce CAM's senior debt and deposit ratings to Ba1 from Baa2, on review for possible
downgrade.
has denied that it makes money when users "
downgrade" Windows Vista to the older XP, as a lawsuit filed last week alleges.<p>The lawsuit, submitted to a Seattle federal court last Wednesday, stems from the $59.25 fee that a California woman was charged in mid-2008 when she bought a Lenovo laptop and downgraded from Vista to XP.<p>"Microsoft does not charge or receive any additional royalty if a customer exercises those [downgrade] rights," said Microsoft spokesman David Bowermaster in an e-mail late last week.
All of these classes had been downgraded and placed under review for possible further
downgrade in September.
The rating actions follow the
downgrade of the Long-Term IDRs of Mumtalakat and nogaholding's sponsor, Bahrain, to 'BB-' from 'BB+' on 1 March 2018 (see 'Fitch
Downgrades Bahrain to 'BB-'; Outlook Stable' at www.fitchratings.com).
Summary: Actions follow
downgrade of Ukraine's government bond rating to C3