Tag Archives: credit rating

BungaBusta!

Italy has had the rating of its creditworthiness cut, the latest move in the European debt crisis. Standard and Poor’s cut its rating by one level to A from A+, and said the outlook remained negative. The agency said weak growth may limit Rome’s ability to cut state spending and bring its finances in order. […]

Risky Business

China has scolded the US over its “addiction to debt” after rating agency Standard & Poor’s downgraded the US’ top-notch AAA rating to AA+. State news agency Xinhua said unless the US cut its “gigantic military expenditure and bloated welfare costs,” another downgrade would be inevitable. But other countries, such as Australia, France and Japan, […]