Money lenders trust America so implicitly that they generally dismiss the risk it won't pay its debts. But in the US capital, fears are growing that political dysfunction might trigger the unthinkable.
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.
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