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Top related persons:
Danish Siddiqui - 1 Anil Agarwal - 1 Vedanta - 1 Rama Venkat - 1 Dhanya Ann Thoppil - 1
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Vedanta - 1 REUTERS - 1 Danish - 1 Rights - 1 Moody's Investors Service - 1 Resources - 1 Vedanta Resources - 1 Thomson - 1

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4 mentions found


☆ India's Vedanta hits over 1-year low after Moody's downgrades parent
  + stars: | 2023-09-27 | by ( ) www.reuters.com   time to read: +1 min
A man walks past the logo of Vedanta outside its headquarters in Mumbai, India January 31, 2018. REUTERS/Danish Siddiqui/file photo Acquire Licensing RightsBENGALURU, Sept 27 (Reuters) - Shares of Indian conglomerate Vedanta (VDAN.NS) fell to their lowest in over a year on Wednesday after Moody's Investors Service downgraded parent Vedanta Resources' senior unsecured bonds, citing a high risk of debt restructuring in the coming months. The rating agency also raised concerns about the ability of Vedanta Resources' operating subsidiaries to generate cash flow in a "softening commodity price environment." Moody's downgraded Vedanta Resources' unsecured bonds to Caa3 from Caa2, and the corporate family rating of the billionaire Anil Agarwal-owned company to Caa2 from Caa1 while maintaining a negative outlook. Vedanta was the top loser on the Nifty 100 index (.NIFTY100), which was down 0.26%.
Persons: Danish Siddiqui, Anil Agarwal, Vedanta, Rama Venkat, Dhanya Ann Thoppil Organizations: Vedanta, REUTERS, Danish, Rights, Moody's Investors Service, Resources, Vedanta Resources, Thomson Locations: Mumbai, India, Caa2, Caa1, Bengaluru
☆ Moody's downgrades credit ratings on Silicon Valley Bank, SVB Financial
  + stars: | 2023-03-11 | by ( ) www.reuters.com   time to read: 1 min
March 10 (Reuters) - Rating's agency Moody's on Friday downgraded the ratings of SVB Financial Group (SIVB.O) and its bank subsidiary, Silicon Valley Bank. Moody's slashed its credit ratings on Silicon Valley Bank's long-term local currency bank deposit to Caa2 from A1 and issuer ratings to C from Baa1. S&P Global earlier today slashed credit ratings on SVB Financial Group and Silicon Valley Bank to junk territory and said that it expects SVB Financial to enter bankruptcy. Reporting by Akanksha Khushi in Bengaluru; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.
☆ How much will Silicon Valley Bank customers get back from the money they deposited? They may not recover it all, analysts say.
  + stars: | 2023-03-11 | by ( Alistair Barr | ) www.businessinsider.com   time to read: +3 min
Moody's, backed by Warren Buffett, specializes in assessing the financial strength of financial institutions, so SVB depositors should pay attention. Moody's downgraded SVB's long-term bank deposit rating to "Caa2," which reflects "an expected recovery rate of 80-90% for uninsured depositors," the rating agency said. For anything over $250,000 in your SVB bank account, Moody's estimates you will get 80 cents to 90 cents for each dollar deposited. That could mean that a newly supported SVB bank might open on Monday morning and depositors will have full access to their accounts. But it illustrates the risks to uninsured bank depositors.
☆ Junk-Rated Companies Face Greater Downgrade Risks as Economy Slows
  + stars: | 2022-11-25 | by ( Mark Maurer | ) www.wsj.com   time to read: +6 min
Each of these companies was downgraded by at least one ratings firm in recent weeks. At the same time, the economy has been losing steam, resulting in lower earnings and darkening the outlook for companies, especially in consumer-facing sectors. Credit downgrades can drive up financing costs for companies and cause executives to take additional action such as reducing debt loads. There were 33 S&P downgrades in September, the most in a single month since June 2020. Businesses without immediate refinancing needs, however, tend to see less of a direct impact from credit downgrades.
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