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Tag Archives: finance

Standard & Poor’s downgrades Sagicor Life Inc

28-Jul-09

I tend to bang on about these rating agency downgrades, but they are important. For those of you not familiar with these companies, their essence can be distilled thus:  ratings agencies are arbiters of creditworthiness. In other words, agencies like Moody’s, Standard & Poor’s and Fitch bestow upon companies and countries  grades that indicate the [...]

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S&P says may cut ratings on FCB and Republic Bank

03-Feb-09

S&P, which said today it was considering downgrading T&T’s sovereign credit rating, is also scrutinising the ratings of both First Citizens Bank and Republic Bank due to the fallout from the CL Financial bailout. Here are the statements, any emphasis/explanations mine: S&P: First Citizens Bank Ltd. ‘BBB+/A-2′ Rating Put On CreditWatch Negative ["CreditWatch Negative" means [...]

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CL Financial bailout threatens T&T’s credit rating

03-Feb-09

From credit rating agency Standard & Poor’s on Tuesday (emphasis and in-line explanations mine): NEW YORK, Feb. 3, 2009–Standard & Poor’s Ratings Services said today that it placed its ‘A/A-1′ foreign-currency and ‘A+/A-1′ local-currency sovereign credit ratings on the Republic of Trinidad and Tobago on CreditWatch with negative implications. [Credit watch with negative implications means [...]

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