Markets

India’s GDP is likely to rebound to 8.5% in 2022, S&P says, but a forgotten community struggles to find any glimmer of hope

India’s gross domestic product may rebound to 8.5% in 2022 before suffering a “deep contraction” in this fiscal year, according to S&P Global Ratings. Despite India’s $US264 billion economic stimulus, or about 10% of its GDP, the country’s migrant laborers and struggling communities are enduring critical troubles. A direct cash-transfer […]
India’s GDP is likely to rebound to 8.5% in 2022, S&P says, but a forgotten community struggles to find any glimmer of hope
Markets

You’ll still risk your credit rating if you freeze your mortgage payments due to the coronavirus – but the banks are trying to fix that

Editor’s note: Since this article was published, Australian banks and lenders have largely agreed not to penalise customers that opt for hardship relief. Read more here. Australians will still see their credit scores slugged if they take up their bank’s offer to freeze their home loan repayments. The Australian Banking […]
You’ll still risk your credit rating if you freeze your mortgage payments due to the coronavirus – but the banks are trying to fix that
Markets

The credit ratings for 138 countries around the world, in one chart

Moody’s Investors Service has released its latest sovereign credit rating outlook report. The group says global economic growth likely peaked this year, meaning the window for addressing credit challenges is “gradually closing”. Moody’s says the largest external challenges facing government’s around the world are “a tightening global financial conditions, shifting […]
The credit ratings for 138 countries around the world, in one chart
Tech

US-style personal credit ratings are coming to Australia

Australian treasurer Scott Morrison has announced that banks will be forced to share customers’ credit data from July next year. The comprehensive credit reporting (CCR) system, which the NAB became the first to commit to earlier this month, sees banks send both positive and negative data about a customer to […]
US-style personal credit ratings are coming to Australia
Markets

The Australian dollar has dropped after China rating cut

The Australian dollar dropped after Moody’s Investor Services cut the credit rating of China. A short while ago, the currency was trading 0.4% weaker at a session low of $US 0.7450. China is Australia’s largest trading partner and the dollar’s fortunes are closely aligned to the world’s second largest economy. […]
The Australian dollar has dropped after China rating cut
Markets

Moody’s cuts China’s rating

Moody’s Investors Services cut China’s long-term local and foreign currency issuer ratings on concerns the country’s financial strength would erode in the coming years, while debt rises. The outlook for China was changed from stable to negative. The rating was dropped by a notch from Aa3 to A1, which is […]
Moody’s cuts China’s rating
Markets

Moody’s has just upgraded Qantas

Qantas has cleared another hurdle in its massive turnaround — Moody’s just lifted its credit rating. Moody’s Investors Service lifted Qantas to Baa2 with a stable outlook from Baa3, a rating it gave the airline in January 2014 because of a “sharp deterioration” in its domestic business. In the same […]
Moody’s has just upgraded Qantas
Markets

MOODY’S: Debt is still affordable, so don’t worry about it rising in Australia

Australia’s high level of debt affordability mitigates the erosion of fiscal strength as the nation’s debt surges, Moody’s Investor Services said. Affordability will likely remain high amid low interest rates and that, along with a “very high” fiscal strength supports Australia’s highest credit rating, Marie Diron, associate managing director at […]
MOODY’S: Debt is still affordable, so don’t worry about it rising in Australia
News

Moody’s expects no change to Australia’s triple A credit rating

Moody’s Investor Service says it expects no change to Australia’s triple A credit rating and stable outlook. “We expect Australia’s financial system and economy to absorb possible external and internal shocks,” Marie Diron, associate managing director at Moody’s told the news agency Reuters today. Moody’s in January reaffirmed Australia’s Aaa […]
Moody’s expects no change to Australia’s triple A credit rating