Moody's Investors Service downgrades its bond rating on Cyprus to Caa3 from B3 on Thursday, pointing to the country's rising debt burden driven by a need to recapitalize its banks. "Moody's believes there is a significantly increased likelihood...
Argentina has finally run out of wiggle room in a billion-dollar showdown over foreign debts unpaid since the country's world-record default a decade ago, and the stakes couldn't be higher for President Cristina Fernandez.
BTEL is currently negotiating with foreign banks to raise refinancing loans. However, the company's high leverage and poor trading results mean it is likely to breach the financial covenants of its obligations. Click here for more.
Norway’s government signaled it sees little risk of Eksportfinans ASA defaulting on its obligations even after the state-backed lender was downgraded to junk in response to last month’s decision to wind down the unit.
Norway’s government signaled it sees little risk of Eksportfinans ASA defaulting on its obligations even after the state-backed lender was downgraded to junk in response to last month’s decision to wind down the unit.
State and local governments are unlikely to experience a “material increase” in municipal defaults during the next three to five years, according to a study by Kroll Bond Rating Agency.
Bahrain’s default risk climbed to the highest since March, at the height of confrontations between government troops and protesters, amid concern tensions may flare up before Sept. 24 parliamentary elections.
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