Sony cuts 5,000 jobs, exits PC business and books $1 bn loss
The shock news comes a week after Moody’s downgraded its credit rating on Sony to junk
Latest in Tag: moody Highlight
Latest in Tag: moody
S&P raises Egypt sovereign credit rating to B- from CCC+
Reuters – Standard & Poor’s Ratings has raised its long and short-term foreign and local currency sovereign credit ratings on the Arab Republic of Egypt to ‘B-/B’ from ‘CCC+/C’. The upgrade reflects S&P’s view that the Egyptian authorities have secured sufficient foreign currency funding to manage Egypt’s short-term fiscal and external financing needs. “We expect support from bilateral …
Moody’s maintains negative outlook on Egypt
The agency stated that Egypt’s rating could be downgraded further if there were an intensification of political unrest or instability in the banking system.
Moody’s downgrade gives edge to safe-haven banks
(Reuters) – Major ratings downgrades by Moody’s will further divide the world’s biggest banks based on their strength and access to cheap customer deposits. The ratings, released Thursday by Moody’s Investors Service, gave a competitive advantage to “safe-haven” banks that fund themselves with stable, low-cost customer deposits, while worsening the outlook for weaker banks that …