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The Latest Breaking News from Fitch

Nigel Farage says NatWest management ‘should go’ after CEO Rose admits discussing his bank account with BBC – as it happened

Dame Alison Rose admitted to serious error in discussing Nigel Farage’s relationship with Coutts with a BBC journalist.

The Guardian - UK

Fitch Ratings Monitors Israeli Judicial Reform Amid Credit Rating Concerns

The credit rating agency holds meetings with officials to assess the impact on economy and high-tech investments.

Zenger

Thailand affirmed at BBB+, outlook stable

Fitch Ratings has affirmed Thailand's long-term foreign-currency issuer default rating (IDR) at BBB+ with a stable outlook. Among the key ratings drivers are:

Bangkok Post

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Fitch Ratings registers interest in virtual banks

Fitch Ratings believes there is significant interest and momentum in Thailand's virtual bank application process, even though the timeline has been extended.

Bangkok Post

Firms to rally amid economic revival

The performance of Thai corporations should gradually improve this year as the domestic economy recovers and inflationary pressures ease, according to analysts at Fitch Ratings' 2023 Thailand Corporate Credit Outlook & Asean ESG conference in Bangkok recently.

Bangkok Post

Africa needs its own credit rating agency: here’s how it could work

The credit rating industry in Africa is dominated by the three international agencies: Moody’s, SP and Fitch. Together they control an estimated 95% of the credit rating business globally.

The Conversation

Fitch raises India's GDP forecast to 6.3% from 6% for current fiscal year

Fitch Ratings on June 22, 2023 raised its forecast for India’s economic growth to 6.3% for current fiscal year 2023-24 from 6% it had predicted previously

The Hindu

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‘Anyone want to buy?’: Turkish lira falls as traders await uplift in economy

Mood is tense among currency traders in Istanbul’s Grand Bazaar, with country reeling from a profound economic crisis

The Guardian - UK

California lets Allstate hike rates — but insurer still won’t write new home policies

Allstate has received California’s blessing to raise homeowner insurance premiums 4%, but the state’s fifth largest home insurer said it has no plans to reverse its decision last fall to stop writing new policies.

Tribune News Service

He took away the country's top AAA rating in 2011. He ended up fearing for his life

John B. Chambers led the team at ratings agency S&p that decided to downgrade the country's AAA rating in 2011. It was a big decision, and it took a personal toll — but he has no regrets.

WEKU

France avoid S&P credit downgrade but concerns persist

France managed to avoid a fresh credit downgrade from a leading rating agency on Friday, despite mounting concern over the country's surging national debt.

Radio France Internationale

French credit rating under more pressure

PARIS: France's surging national debt is causing increasing alarm with the country risking a fresh warning on Friday over its credit rating after a downgrade.

Bangkok Post

Macron struggles to kick France's spending habit

President Emmanuel Macron has loosened labour laws and cut taxes among other reforms to transform the economy, but has not broken France's addiction to spending big to buy social peace.

Reuters

Playing the waiting game

Before May 14, many investors and analysts were hopeful that the general election could reverse the "sell in May" phenomenon, which refers to the Thai bourse traditionally underperforming during the hot, dry months.

Bangkok Post

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Radio France Internationale

France in 'close discussions' with agency over debt rating

France is in "very close talks" with debt rating agency Standard and Poor's, Prime Minister Elisabeth Borne said Sunday, after a downgrade from rival Fitch reignited government finance concerns in the EU's second-largest economy.

The Independent UK

Threat of US credit downgrade looms over debt ceiling talks

With one of three major rating agencies warning that America’s AAA credit is at risk, the stakes are growing in the standoff in Washington over raising the nation’s debt limit

Barchart

U.S. Credit Rating at Risk from Debt-Ceiling Impasse

Fitch Ratings late Wednesday placed the United States ‘AAA’ long-term foreign-currency issuer default rating (IDR) on rating watch negative. Fitch said the watch negative reflects increased political partisanship that is hindering reaching a resolution to raise or suspend the debt limit despite the fast-approaching date when the U.S. Treasury exhausts...

Tribune News Service

US credit rating at risk of Fitch cut on debt-limit impasse

The tension around the U.S. debt-limit negotiations ratcheted up after Fitch Ratings warned the nation’s AAA rating was under threat from a political standoff that’s preventing a deal.

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France 24

DeSantis's troubled Twitter campaign launch underlines issues since Musk takeover

Technical malfunctions have marred Florida Governor Ron DeSantis's announcement that he's running for US president. The hyped Twitter Spaces appearance was 20 minutes late in starting, repeatedly lost sound and many users said they had trouble logging in. Since Elon Musk took the reins, Twitter has struggled with a myriad…

Tribune News Service

McCarthy signals debt deal optimism as US is put on credit watch

WASHINGTON — House Speaker Kevin McCarthy’s optimism that White House and GOP negotiators would reach a deal in time to avert a potentially catastrophic default didn’t mollify analysts as the U.S. was put on a ratings watch late Wednesday.

Roll Call

Debt limit vibe back on the upswing after White House meeting - Roll Call

Speaker Kevin McCarthy said Wednesday that negotiations to lift the statutory debt limit are going better than they had been a day earlier.

Bangkok Post

Fitch upbeat on post-poll outlook for bank sector

Pro-growth policies and the absence of protests after the election are positive signs for Thai banks and the economy, but uncertainties remain as the winning parties try to form a coalition government, says global financial information provider Fitch Group.

The Hindu

Enforcement Directorate search at Manappuram Finance highlights corporate governance challenges in India: Fitch Ratings

Fitch Ratings on May 10 said the recent search by the Enforcement Directorate at gold-backed lender Manappuram Finance highlights corporate governance challenges that can arise in emerging markets such as India.

France 24

'It strengthens anti-establishment forces': Pension reform protests threaten Macron’s agenda

A global credit ratings agency downgraded French debt worthiness a notch on Saturday, citing pension reform protests as a cause. Two weeks after the contested reform passed, persistent social movements threaten to erase the financial gains that the French government expected.

Bangkok Post

Baht all safe and sound

While the recent banking debacle in the US and Europe sparked fears about a contagion spreading worldwide, the head of Thailand's Deposit Protection Agency (DPA) said since the agency's establishment in 2008, Thailand has never been close to requiring action to protect deposits.

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