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...Additional reporting by Akila Quinio, Stephen Morris, Robert Smith and Euan Healy...
...Fitch also lowered NYCB’s overall credit rating last week, but, unlike Moody’s, maintained its deposits at investment grade....
...Fitch, a rival rating agency, downgraded the bank on Friday but left its rating in investment grade territory. Moody’s said NYCB faced numerous “financial, management and risk management” issues....
...An analyst from Fitch told CNBC on Tuesday that the agency is considering lowering multiple bank ratings, including JPMorgan, which is currently among the highest rated lenders in the US, largely due to...
...Fitch also called attention to the £350mn of senior bonds that Metro must refinance by next October....
...Now try this I was very sad to read about the death of Russell Norman, the restaurateur who reshaped much of the British food scene (his obituary by Harriet Fitch Little can be read here)....
...As scrutiny of the bank increased, Metro was put on watch by Fitch earlier this week, with the rating agency pointing to rising risks to the lender’s business model, capital position and funding....
...Credit rating agency Fitch put Metro on negative watch on Wednesday, citing increased risks to its business model, capital position and funding....
...“The Bank will need to be tough to dampen core inflation,” said Jessica Hinds, economist at Fitch Ratings....
...The worst-case scenario is that “policyholder behaviour changes such that the insurers become forced sellers”, said Douglas Baker, a director at Fitch Ratings....
...“We have left that era [of zero rates] behind us,” said Stephen Millard, a deputy director of the National Institute of Economic and Social Research in London....
...Following a series of downgrades over the past year, Credit Suisse’s debt teeters perilously one notch above junk status, as rated by S&P, and two above by Moody’s and Fitch....
...As the company tries to convert its EV losses into profits in three years, investors are interested in “knowing how that path looks”, said Stephen Brown, analyst at Fitch Ratings....
...However, if a technical default results in US sovereign-credit downgrades, higher yields would probably follow, argues Stephen Pavlick of Renaissance Macro....
...“They’ve been smashing up their reserves, which is never a good plan,” says Stephen Bailey-Smith, a portfolio manager at Global Evolution....
...Additional reporting by Stephen Gandel in New York...
...“The first domino to fall is really the dealer mark-ups we saw over the past two years,” said Fitch Ratings analyst Stephen Brown. “We’re already seeing a lot of that start to go away.”...
...Follow Stephen on Twitter @stephenkb and please send gossip, thoughts and feedback to insidepolitics@ft.com....
...Fitch Ratings forecasts the total spend could reach $22.5bn by 2025....
...“It’s not a question of if [the market will move] now, it’s a question of when,” said Stephen Catlin, chief executive of Convex. “The when for reinsurance is 1/1.”...
...“What we’re witnessing now is the difficulty of scaling up production in the auto industry,” said Fitch Ratings analyst Stephen Brown....
...As Stephen Fry once put it: “The great British comic heroes are people who want life to be better and on whom life craps from a terrible height.” All of this makes Ten Percent a tough proposition....
...Some car parts suppliers are simply “better positioned as this transition takes place”, said Fitch Ratings analyst Stephen Brown....
...On Friday, Fitch downgraded Veon’s credit rating to a junk grade of B+ from the previous investment grade BBB-, citing its limited access to cash in Russia and Ukraine....
...Anton Lopatin, senior director at Fitch Ratings, said: “Promsvyazbank is the largest bank in this list, but this is a bank focused on military financing....
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