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Bond Ratings | Corporate Finance | CPA Exam BEC | CMA Exam | Chp 7 p 3
 
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Firms frequently pay to have their debt rated. The two leading bond-rating firms are Moody’s and Standard & Poor’s (S&P). The debt ratings are an assessment of the creditworthiness of the corporate issuer. The definitions of creditworthiness used by Moody’s and S&P are based on how likely the firm is to default and the protection creditors have in the event of a default. It is important to recognize that bond ratings are concerned only with the possibility of default. Earlier, we discussed interest rate risk, which we defined as the risk of a change in the value of a bond resulting from a change in interest rates. Bond ratings do not address this issue. As a result, the price of a highly rated bond can still be quite volatile. The highest rating a firm’s debt can have is AAA or Aaa, and such debt is judged to be the best quality and to have the lowest degree of risk. For example, the 100-year BellSouth issue we discussed earlier was rated AAA. This rating is not awarded very often: As of 2014, only four nonfinancial U.S. companies had AAA ratings. AA or Aa ratings indicate very good quality debt and are much more common. A large part of corporate borrowing takes the form of low-grade, or “junk,” bonds. If these low-grade corporate bonds are rated at all, they are rated below investment grade by the major rating agencies. Investment-grade bonds are bonds rated at least BBB by S&P or Baa by Moody’s. Rating agencies don’t always agree. To illustrate, some bonds are known as “crossover” or “5B” bonds. The reason is that they are rated triple-B (or Baa) by one rating agency and double-B (or Ba) by another, a “split rating.” For example, in March 2014, real estate investment company Omega Healthcare Investors sold an issue of 10-year notes rated BBB– by S&P and Ba1 by Moody’s. A bond’s credit rating can change as the issuer’s financial strength improves or deteriorates. For example, in January 2014, Moody’s cut the bond rating on PlayStation 4 manufacturer Sony from Baa3 to Ba1, lowering the company’s bond rating from investment grade to junk bond status. Bonds that drop into junk territory like this are called fallen angels. Although sales of the new PS4 were a positive factor noted by Moody’s, the rating agency felt that the majority of Sony’s core business such as TVs, mobile phones, digital cameras, and personal computers faced difficult times ahead. Credit ratings are important because defaults really do occur, and when they do, investors can lose heavily. For example, in 2000, AmeriServe Food Distribution, Inc., which supplied restaurants such as Burger King with everything from burgers to giveaway toys, defaulted on $200 million in junk bonds. After the default, the bonds traded at just 18 cents on the dollar, leaving investors with a loss of more than $160 million. Even worse in AmeriServe’s case, the bonds had been issued only four months earlier, thereby making AmeriServe an NCAA champion. Although that might be a good thing for a college basketball team such as the University of Kentucky Wildcats, in the bond market it means “No Coupon At All,” and it’s not a good thing for investors.
Florian Homm: Euro Junk Bonds und die EZB Marktmanipulation - Wie kann man davon profitieren?
 
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🔥 Börsenbrief: https://www.florianhommlongshort.ch/ Junk Bonds sind "Schrottanleihen". Die Verzerrung schlechthin. Es sind Anleihen von Unternehmen oder Ländern mit minderer Qualität. Sie haben einen schlechten Record. Kein Rating bedeutet keine Sicherheit. Wie kann man davon profitieren? ➜ Hier geht's zum Buch : https://erfolgimcrash.de/ ➜ Hier geht's zum Börsenbrief : https://www.florianhommlongshort.de/ Dr. h.c. Florian Homm, MBA (geboren 1959) ist Deutschlands bekanntester Hedgefonds Manager. Nach seinem Studium an der Harvard Business School arbeitete Homm unter anderem bei Merrill Lynch, Fidelity, Tweedy, Browne, Bank Julius Bär als Analyst, Nostro Händler und Fonds Manager bevor er als Finanzunternehmer und Hedge Fonds Manager US Dollar Milliardär wurde. Er blickt auf eine sehr bewegtes Leben zurück. Homm spricht sechs Sprachen, ist ehemaliger Botschafter und UNESCO Delegierter, sowie ehemaliger Basketball Junioren Nationalspieler und Bestseller Autor. Er wurde bei einem Mordattentat in Venezuela von einer Kugel getroffen, während in Deutschland 1,5 Millionen Euro Kopfgeld auf Ihn ausgesetzt waren. Heute ist er fast ausschließlich karitativ sowie in beratender Funktion tätig und spricht in seinen Videos, Analysen und Büchern über aktuelle wirtschaftliche und politische Themen. ➜ Abonniere Florian Homm auf Youtube - http://bit.ly/2sHqyge ➜ Folge Florian Homm auf Facebook https://www.facebook.com/homm.florian/ ➜ Unterstützen Sie bitte die Vereinsarbeit: https://www.olmoms.org
Views: 7693 Florian Homm
Moody's downgrades Chicago credit rating to junk bond status
 
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Moody's Investors Service has lowered Chicago's credit rating to junk bond status, a move Mayor Rahm Emanuel is calling irresponsible. Now, the slow-burning flames of this downgrade crisis at City Hall are suddenly roaring. The decision by Moody's means the cost of borrowing by Chicago will increase. Moody's didn't just slash and burn the City of Chicago's general obligation credit rating to junk status, it also downgraded to junk nearly another $4 billion in bonds tied to revenue from the city's water and sewer systems. Moody's didn't touch the State of Illinois' credit rating, but blamed its sweeping downgrades of city debt on a case the state lost last week at the Illinois Supreme Court. The court ruled a law unconstitutional on Friday that would have cut public employee pensions, which prompted Moody's to declare the following: "We believe the city's options for (reducing)...its own unfunded pension liabilities have narrowed considerably." Moody's suggested if the city raised taxes, it might re-evaluate the credit rating downgrades. That drew an angry, written response from Mayor Emanuel. "While Chicago's financial crisis is very real and at our doorsteps, today's...decision by Moody's...is not only premature, but it is irresponsible to play politics with Chicago's financial future by pushing the City to increase taxes on residents without reform," Emanuel wrote. Emanuel said he would continue to "work in Springfield and with our partners in labor to ensure we will always meet our obligations, protect the retirements of our workforce, continue to deliver vital city services, while protecting our taxpayers." So, does this mean the international credit markets will now lump Chicago together with Detroit, that other credit-challenged Midwestern metropolis? “I've been in Detroit. And, for many reasons, Chicago is a much different economic situation than the Detroit economic situation is; the diversity of the city's economy. The size of the economy is just -- We're in a much different place than the City of Detroit's been over the last couple of decades,” said Chuck Burbridge, Executive Director of the Chicago Teachers Pension Fund. Now, the mayor and other Chicago Democrats are suddenly much weaker politically. That $2.2 billion is the key. If the big banks demand the cash Moody's has now enabled them to demand, the city probably can't pay. It drastically increases pressure to cut a deal with Gov. Bruce Rauner that they otherwise might not have considered. Rauner's bargaining position just got a lot stronger. In their announcement, Moody's noted the costs of servicing its unfunded liabilities will place "significant strain on the city's financial operations absent commensurate growth in revenue and/or reductions in other expenditures." Emanuel said Moody's is out of step with other rating agencies and ignores the city's progress in dealing with its financial liabilities. Statement from Mayor Rahm Emanuel “While Chicago's financial crisis is very real and at our doorsteps, today's irresponsible decision by Moody's to downgrade the City's credit by two steps goes far beyond that reality. Their decision was driven solely by the overturning of a state pension bill that did not include Chicago's pension reform, yet they did not downgrade the State of Illinois. Moody's is out of step with other rating agencies – by as many as six steps – as they refuse to acknowledge Chicago's growing economy, progress we have made on our legacy financial liabilities, balancing four budgets without raising property taxes while adding to our reserves, securing pension reforms for two of the City's four funds to preserve and protect retirements for 61,000 employees that were previously in danger, and the progress we are now making with our partners in labor at the other two city funds. This action by Moody's is not only premature, but it is irresponsible to play politics with Chicago's financial future by pushing the City to increase taxes on residents without reform. I am committed to focus on both reform and revenue to address Chicago's fiscal crisis, and we will continue our work in Springfield and with our partners in labor to ensure we will always meet our obligations, protect the retirements of our workforce, continue to deliver vital city services, while protecting our taxpayers.”
EU credit rating agency can stick AAA ratings to Eurozone junk bonds - Godfrey Bloom MEP
 
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http://ukipmeps.org | http://ukip.org ► European Parliament, Strasbourg - 15.06.2010 ► Speaker: Godfrey Bloom MEP, UKIP (Yorkshire & North Lincolnshire), EFD group. ► Debate: Oral questions - GUE/NGL, S&D, PPE, ALDE : Commission - Credit rating agencies - O-0051/2010, O-0072/2010, O-0077/2010, O-0078/2010 .................................. ► Video: EbS (European Parliament) .................................. ► EU Member States: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Germany, Denmark, Estonia, Spain, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Sweden, United Kingdom
Views: 1799 UKIP MEPs
EP Junk Bond Rating
 
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East Providence's finances has been downgraded to junk bond status.
Views: 10 WPRI
Is Moody's WARNING Of A CRASH? - Massive Wave Of Junk Bond Defaults Ahead!
 
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Josh Sigurdson talks with author and economic analyst John Sneisen about Moody's most recent warning as the credit rating agency claims there is likely a large wave of junk bond defaults ahead. We have seen the level of global non-financial companies rated as speculative or junk rise 58% since 2009, the largest proportion in history! We've also seen a 49% increase in debt for U.S. companies as well as the rise of share buybacks which are becoming more prevalent and more risky by the day. Moody's warnings should not be taken in stride. The agency only issues warnings when they absolutely have to and cannot put off the bad market sentiment any longer. They can only cover up so long until it becomes obvious. For their own good, they have to look like a serious credit rating agency when the markets tank, so they can say "I told you so." According to Moody's, the low interest rates and obsession with yield has lead to companies issuing mounds of debt that in comparison offer low levels of protection for investors. They warn that when economic conditions worsen, the outlook won't be so benign. We haven't seen this level of concern since 2008, and there's a reason for that. Nothing has changed since 2008. Well, actually scratch that... things have gotten WORSE since 2008. We never saw a recovery, we simply saw perpetuation. Putting off the crisis a bit longer, leading to far more pressure build-up and centralization run amok. Now, when it comes down, it'll come down that much harder and it'll be as if no one ever learned. If we want to stop the circular havoc, we as individuals need to support the individual's demand of their currency, the free market. Not bank and government centralization leading to massive downfalls. How many times do we need to go through this. Of course the fundamentals are off the table due to the level of manipulation in the monetary system as well as the markets, so we cannot put a date on the crash, but we know it has to happen inevitably and so we must prepare and understand the repeated problems. Self sustainability and individual responsibility are simply the most necessary ways to protect ourselves against this market and monetary calamity. Individuals must do their own due diligence and come out of this problem, strong and independent. Stay tuned for more from WAM! Video edited by Josh Sigurdson Featuring: Josh Sigurdson John Sneisen Graphics by Bryan Foerster and Josh Sigurdson Visit us at www.WorldAlternativeMedia.com LIKE us on Facebook here: https://www.facebook.com/LibertyShallPrevail/ Follow us on Twitter here: https://twitter.com/WorldAltMedia FIND US ON STEEMIT: https://steemit.com/@joshsigurdson BUY JOHN SNEISEN'S LATEST BOOK HERE: Paperback https://www.amazon.com/dp/1988497051/ref=zg_bs_tab_pd_bsnr_2?_encoding=UTF8&psc=1&refRID=ZBK6VTXQRA2F77RYZ602 Kindle https://www.amazon.ca/dp/B073V5R72H/ref=sr_1_1?s=digital-text&ie=UTF8&qid=1500130568&sr=1-1 DONATE HERE: https://www.gofundme.com/w3e2es Help keep independent media alive! Pledge here! Just a dollar a month can help us stay on our feet as we face intense YouTube censorship! https://www.patreon.com/user?u=2652072&ty=h&u=2652072 BITCOIN ADDRESS: 18d1WEnYYhBRgZVbeyLr6UfiJhrQygcgNU https://anarchapulco.com/buy-your-tickets/ Use Promo Code: wam to save on your tickets! World Alternative Media 2018 "Find the truth, be the change!"
Default Risk and Bond Rating - Finance - What is the Definition - Financial Dictionary
 
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Although bonds normally promise a fixed flow of income, this does not mean that they are riskless investments. Although U.S. government bonds are treated as risk-free, this is not the case for corporate bonds. If a company goes bankrupt then the bondholders will not receive the payments that they have been promised and therefore there is some uncertainty surrounding future bond payments. This uncertainty is called default risk. The default risk is measured by Moody's Investors Services, Standard & Poor's Corporation, and Fitch Investors Service. All three of these entities provide financial information on firms as well as well as ratings on corporate and municipal bonds. Investment Grade Bonds Bonds that are rated BBB or above by Standard & Poor's, or Baa or above by Moody's are called investment grade bonds. Speculative Grade or Junk Bonds Bonds that are rated BB or lower by Standard and Poor's, Ba or lower by Moody's, or bonds that are unrated are considered junk bonds or speculative grade bonds. Bond rating agencies use financial ratios to grade bonds. The key ratios used are show below as follows Coverage ratios Leverage ratio Liquidity ratios Profitability ratios Cash flow-to-debt ratio https://www.youtube.com/user/Subjectmoney https://www.youtube.com/watch?v=7a7b8v6Mz7A
Views: 2047 Subjectmoney
US losing AAA rating?
 
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Bond ratings affect the interest rates a country pays and access to the credit markets. The lower the credit rating, it is believed, the higher the chances are for a country to default on its debt obligations. So what would it mean for the US economy if it lost its prestigious AAA bond rating? Ratings agencies warn that may be possibility.
Views: 15240 RT America
Junk Bonds Rally On
 
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Forbes' Heather Struck on persistent exuberance in high-yield debt. http://blogs.forbes.com/heatherstruck/ http://www.forbes.com/markets/
Views: 888 Forbes
Illinois Pension Catastrophe 2018- Junk Bond Rating And Bills To Pay
 
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In this video I cover an article entitled " Illinois Enters Its Death Spiral". Here is the link: https://dollarcollapse.com/pension-funds/illinois-enters-death-spiral-junk-bonds/. This video is a continuation of the seriousness of the pension problem we are facing in the United States. If you live in Illinois and are able to leave then that may be the best viable option. Illinois Bonds have or becoming junk status and with the mounting pension obligations the situation is dire. This is an imminent crisis that has far too little attention.
Intro to the Bond Market
 
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Most borrowers borrow through banks. But established and reputable institutions can also borrow from a different intermediary: the bond market. That’s the topic of this video. We’ll discuss what a bond is, what it does, how it’s rated, and what those ratings ultimately mean. First, though: what’s a bond? It’s essentially an IOU. A bond details who owes what, and when debt repayment will be made. Unlike stocks, bond ownership doesn’t mean owning part of a firm. It simply means being owed a specific sum, which will be paid back at a promised time. Some bonds also entitle holders to “coupon payments,” which are regular installments paid out on a schedule. Now—what does a bond do? Like stocks, bonds help raise money. Companies and governments issue bonds to finance new ventures. The ROI from these ventures, can then be used to repay bond holders. Speaking of repayments, borrowing through the bond market may mean better terms than borrowing from banks. This is especially the case for highly-rated bonds. But what determines a bond’s rating? Bond ratings are issued by agencies like Standard and Poor’s. A rating reflects the default risk of the institution issuing a bond. “Default risk” is the risk that a bond issuer may be unable to make payments when they come due. The higher the issuer’s default risk, the lower the rating of a bond. A lower rating means lenders will demand higher interest before providing money. For lenders, higher ratings mean a safer investment. And for borrowers (the bond issuers), a higher rating means paying a lower interest on debt. That said, there are other nuances to the bond market—things like the “crowding out” effect, as well as the effect of collateral on a bond’s interest rate. These are things we’ll leave you to discover in the video. Happy learning! Subscribe for new videos every Tuesday! http://bit.ly/1Rib5V8 Macroeconomics Course: http://bit.ly/1R1PL5x Ask a question about the video: http://bit.ly/29Q2f7d Next video: http://bit.ly/29WhXgC Office Hours video: http://bit.ly/29R04Ba Help us caption & translate this video! http://amara.org/v/QZ06/
Why investors should resist temptation of junk bonds
 
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A lot of frustrated investors are turning to junk bonds to generate extra cash flow. Compared to government bonds, junk bonds yield a juicy interest rate. But with the extra interest comes risk. Jill Schlesinger reports.
Views: 573 CBS News
Why Did S&P Issue Warning on US Bond Rating?
 
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Kevin Hall and Mark Weisbrot discuss reasons for Standard and Poor's warning US could lose AAA rating
Views: 2368 The Real News Network
What to expect when Moody's announces SA credit rating: Iraj Abedian
 
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Economy watchers in South Africa are on tenterhooks tonight as the possibility of a credit rating downgrade looms. Today is scheduled for rating agency Moody's to make a possible rating change. Although it's not obliged to do so. Moody's is the only one of the three major rating agencies that still rates South African debt as investment grade. A downgrade into junk status could mean that some government and foreign investors will be barred from buying South African bonds which are used by the government to raise money. So there could be a forced outflow of investment dollars. Since 2017 South Africa has been rated below investment grade by rating agencies Standard and Poor and Fitch. After President Cyril Ramaphosa's first state of the nation address last year - Moody's upgraded its outlook from negative to stable - meaning we were no longer on watch for a downgrade. Since then, however, there has been another load-shedding crisis and other issues affecting growth and job prospects. To discuss we're joined via Skype by the chief economist at Pan African Investment and Research Services, Iraj Abedian. For more news, visit: sabcnews.com
Views: 887 SABC Digital News
AAA Bond Rating
 
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Views: 262 Brent Neeley
What are Bond Ratings?
 
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In this video I explain bond ratings. This topic has a lot to do with default risk; the video prior was more about interest rate risk. A good way to think of bond ratings is that it is basically a bond issuer's equivalent of a "credit score." Visit my website at www.payczech.com/ to learn more!
Views: 2044 Devin Czech
Illinois Bonds Are Essentially Junk Rated
 
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On this edition of Illinois Rising, Dan Proft & Patrick Hughes, Co-Founder Illinois Opportunity Project, discuss a new study which correlates higher legislative pay to more time spent fundraising, and less time legislating. They also talk with Jim Iuorio, Managing Dir. at TJM Institutional Services and CNBC contributor, about the downgrading of Illinois Bonds (yet again) and the fallout of Wells Fargo.
Views: 977 Upstream Ideas
Types of Bonds, Bond Ratings
 
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Join the course on introduction to investments on http://symynd.com/. Topic covered: Interest Rates, Corporate Bonds, Government Bonds, Mortgage-Backed Securities, interest & repayment of principal, corporate bonds, municipal bonds, Federal government bonds (a.k.a. Treasury bonds, T-bonds, "Treasuries"), trust indenture (a.k.a. bond indenture, indenture), trustee, protective covenants, convertible bonds (more about convertibles later), inverse relationship of bond prices and interest rates, when interest rates fall, bond prices rise -- when interest rates rise, bond prices fall, bonds versus stocks, risks: interest rate risk, purchasing power risk, business / financial risk, liquidity risk, call risk (prepayment), nominal rate (a.k.a. "coupon rate") versus current yield versus yield to maturity, face value (a.k.a. par value, normally $1,000 denominations), maturity dates, term bonds versus serial bonds versus sinking fund, bonds versus notes, call provision, call premium, put provision (unusual), par value (a.k.a. "par") versus premium versus discount, Treasury Bonds & Notes (versus Treasury Bills), TIPs -- Treasury Inflation-Indexed Obligations, agency bonds (examples: Fannie Mae, Freddie Mac, Ginnie Mae, Sallie Mae), mortgage bonds (a.k.a. mortgage-backed bonds, mortgage-backed securities), collateralized mortgage obligations, municipal bonds (general obligation bonds -- "GO's", revenue bonds, special tax bonds), tax-exempt yield and taxable equivalent yield , corporate bonds, senior bonds versus junior bonds, debentures versus subordinated debentures, income bonds, zero-coupon bond, "junk bonds" (a.k.a. high yield bonds), foreign bonds, bond ratings, bond trading and bond quotes
Views: 1523 symynd
Junk Bonds Feed a Hungry Market
 
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U.S. companies with junk credit ratings are piling into the debt markets at a record pace, seizing on some of the lowest borrowing costs in history and strong demand from investors craving higher returns. Don’t miss a WSJ video, subscribe here: http://bit.ly/14Q81Xy More from the Wall Street Journal: Visit WSJ.com: http://www.wsj.com Visit the WSJ Video Center: https://wsj.com/video On Facebook: https://www.facebook.com/pg/wsj/videos/ On Twitter: https://twitter.com/WSJ On Snapchat: https://on.wsj.com/2ratjSM
Views: 169 Wall Street Journal
What is a Junk Bond?
 
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Welcome to the Investors Trading Academy talking glossary of financial terms and events. Our word of the day is a “Junk Bond” A junk bond is exactly the same as a regular bond. Junk bonds are an IOU from a corporation or organization or country that states the amount it will pay you back called the principal, the date it will pay you back known as the maturity date and the interest it will pay you on the borrowed money. Junk bonds differ because of their issuers' credit quality. All bonds are characterized according to this credit quality and therefore fall into one of two bond categories, investment grade and junk. These are the bonds that pay high yield to bondholders because the borrowers don't have any other option. Their credit ratings are less than pristine, making it difficult for them to acquire capital at an inexpensive cost. Junk bonds are typically rated 'BB' or lower by Standard & Poor's and 'Ba' or lower by Moody's. Junk bonds are risky investments, but have speculative appeal because they offer much higher yields than safer bonds. Companies that issue junk bonds typically have less-than-stellar credit ratings, and investors demand these higher yields as compensation for the risk of investing in them. A junk bond issued from a company that manages to turn its performance around for the better and has its credit rating upgraded will generally have a substantial price appreciation. By Barry Norman, Investors Trading Academy
RUSSIA JUNK CREDIT RATING | Sanctions & Oil Collapse Hammer Ruble as Russia Credit Rating Downgraded
 
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RUSSIA JUNK CREDIT RATING | Sanctions & Oil Collapse Hammer Ruble as Russia Credit Rating Downgraded Russia’s foreign-currency credit rating was cut to junk by Standard & Poor’s, putting it below investment grade for the first time in a decade as policy makers struggle to keep economic growth alive amid sanctions and falling oil prices. S&P, which last downgraded Russia in April, cut the sovereign one step to BB+, according to a statement released on Monday, the same level as countries including Bulgaria and Indonesia. The ratings firm said the outlook is “negative.” Russian stocks declined and bonds fell for a second day following the announcement, which came after the close of equity trading in Moscow. The world’s biggest energy exporter is on the brink of a recession after oil prices fell to the lowest since 2009 and the U.S. and its allies imposed sanctions over President Vladimir Putin’s actions in Ukraine. The penalties have locked Russian corporate borrowers out of international debt markets and curbed investor appetite for the ruble, stocks and bonds. “Russia’s monetary-policy flexibility has become more limited and its economic growth prospects have weakened,” S&P said in the statement. “We also see a heightened risk that external and fiscal buffers will deteriorate due to rising external pressures and increased government support to the economy.” “The ruble weakened only modestly as the market anticipated such a decision following an explicit warning from the rating agency at the end of December,” Piotr Matys, an emerging-market strategist at Rabobank International in London, said by e-mail. “The odds that a full-scale financial crisis could unfold in the coming months has increased, given that S&P’s decision will undermine the Bank of Russia’s efforts to stabilize the ruble.” On Saturday, December 13th, Russian media reported that U.S. President Obama evidently can’t wait to sign the congressional authorization for war against Russia (which has already been passed in draft form by 98% of U.S. House members and 100% of U.S. Senate members), and that he is already shipping military supplies into Ukraine for use against Ukraine’s ethnic Russians that the Ukrainian Government is trying to eliminate. russia "credit rating" credit debt loan investment ruble "russian ruble" russian junk "standard & poor's" economy oil "oil price" investing currency u.s. usa america "united states" citizenship dollar "u.s. dollar" downgrade war "war games" banking bank "bank account" "savings account" savings collapse people "offshore banking" "credit card" 2015 elite millionaire rich wealth wealthy gold silver "gold bullion" china "elite nwo agenda" alex jones rant infowars gerald celente jim rogers marc faber david icke lindsey williams glenn beck jsnip4 demcad daboo7 prepare survival In other words, the “free speech” that Washington and its EU, Canadian, and Australian puppet states tout means: free speech for Washington’s propaganda and lies, but not for any truth. Truth is terrorism, because truth is the major threat to Washington. Earlier this year, Russian lawmakers were considering equating GMO-related activities to a terrorist act or death threat, a criminal act that Russia says deserves the punishment which killers and creators of mass ecological and human genocide deserve. Financial analyst Jim Willie sensationally claims that Germany is preparing to ditch the unipolar system backed by NATO and the U.S. in favor of joining the BRICS nations, and that this is why the NSA was caught spying on Angela Merkel and other German leaders. Most people in the English-speaking parts of the world missed Putin’s speech at the Valdai conference in Sochi a few days ago, and, chances are, those of you who have heard of the speech didn’t get a chance to read it, and missed its importance. First, presumably in response to stiff sanctions leveled by the United States and the European Union after the annexation of Crimea last year, Russia has cut off 60% of Europe’s gas supplies right in the middle of winter. This has caused an almost immediate crisis in six European nations that have seen a complete cut-off to their supplies – Bulgaria, Greece, Macedonia, Romania, Croatia and Turkey – with more to follow. According to reports via Zero Hedge, the effect has been almost instantaneous. 2015, january
Views: 40 gorapapo TV
Bonds - Understanding Rating Agencies
 
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Many people blame the 2008 financial crash on bad bond ratings. Could it happen again? Should you be concerned? Watch this video to learn what ratings agencies look for when determining bond risk. SUBSCRIBE to learn everything you need to know about trading: https://ota.buzz/2JRtxbd SIGN UP for a FREE Half-day class! http://ota.buzz/youtube Want to learn more useful trading and investing tips? Check out these playlists: - Best of: Investing Strategies: https://ota.buzz/2HbqN7U - Best of: Expert Trader Sam Seiden: https://ota.buzz/2Ej8mLp LET'S CONNECT! — https://www.facebook.com/OnlineTradingAcademy/ — https://twitter.com/TradingAcademy — https://www.linkedin.com/company/online-trading-academy/
Are U.S. Government Bonds AAA or Junk?…And Who’s Lying?
 
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The U.S. government is in debt $21 Trillion, an amount that can never be paid. Yet Moody’s and Fitch reaffirmed their top AAA rating on U.S. debt. Why do they do this? Do they have to? Why can’t politicians, the media, CEO’s, or anyone else, ever tell Americans the truth?
Views: 10852 RonPaulLibertyReport
Illinois debt one step closer to junk
 
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Illinois is on the verge of becoming the first state with a junk-bond rating following downgrades from Moody's and S&P. FBN's Jeff Flock with more.
Views: 2053 Fox Business
Stocks & Bonds : What Are Junk Bonds?
 
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Junk bonds, or high yield bonds, are bonds that have low credit ratings, and therefore include an inherent risk. Be aware of a bond's credit rating before making an investment with help from a portfolio manager in this free video on personal finance and money management. Expert: Gregory Bramwell-Smith Bio: Gregory Bramwell-Smith is the relationship and portfolio manager at Bramwell-Smith Associates. Filmmaker: David Pakman
Views: 2639 ehowfinance
J is for Junk Bonds - The Elite Investor Club's A - Z Guide of Investing
 
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We’ve already reached the tenth letter of our investor alphabet – well done for sticking with me this far! Today we’re going to look at an asset class that has an unappealing name but which could provide returns that are very attractive. J is for junk bonds. We’ve already established that a bond is simply a loan to a government or a company. So what do we mean by a junk bond? It’s a term that came to be used in the nineteen eighties and will forever be associated with one of its pioneers, Michael Milken. One of the risks of being a pioneer is that you get arrows in your back. Ask Milken – he went to jail over junk bonds. But that’s a story for another time.. A junk bond is issued by a company which usually has a not too brilliant credit rating from the official rating agencies who measure these things. The specific definition is a rating of BB or lower from Standard and Poors or BA or below from Moodys. Because they are deemed to be high risk companies, historically they’ve had to offer much higher rates of interest than bonds issued by companies judged to be safe. So they can appeal to investors looking to diversify their portfolio and willing to accept higher risk for higher returns with at least some of their savings. I say historically because in recent years one of the strangest phenomena that I’ve seen is the massive reduction in this so called risk premium. Just like its amazing that Spain or Portugal can borrow money for not much more than Germany or Switzerland, so it is bizarre that many junk bonds now offer only marginally better returns than A rated companies. The biggest attraction for the more sophisticated investor is to find junk bonds issued by a company at the start of a major business turnaround. For example if a new management team is put in place or a new product is launched around the time that the bond is issued. Not only do you lock in a good return, but if the turnaround leads to a re-rating by the credit agencies then the value of the bond can sky rocket in a matter of days. In the junk bond peak of the nineteen eighties companies with few assets would use this paper as a means of acquiring other businesses. Then they’d use the real assets of the acquired business to pay off the debt they took on to fund the acquisition! But as they became more widely used, so the quality of the companies declined and the rate of defaults increased. Many investors got a bloody nose and the junk bond craze died out. But, memories are short. Investors who don’t learn the lessons of history are doomed to repeat them. And that’s what they’re doing right now. If the main bond markets are at risk of a sharp correction when interest rates start to rise again, I can only imagine the scorched earth that will ensue in the junk bond market. And don’t imagine that this is a tiny niche market. Over ninety five per cent of American companies with revenue over thirty five million dollars a year have their bonds rated as junk. They include household names like Delta airlines and US steel. The US junk bond market alone is worth half a trillion dollars. But this is definitely a market for sophisticated investors only. You should only invest money you can afford to lose and no more than the top five or ten per cent of your portfolio. There’s nothing wrong with allocating some of your savings to high risk high return assets. Just make sure you do some due diligence otherwise you might just as well throw darts at the Financial Times…
Views: 1037 Elite Investor TV
Why Moody's slashed Italy's credit rating
 
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http://www.euronews.net/ Moody's lowered its rating on Italy's government bonds because it sees a "material increase" in funding risks for euro zone countries with high levels of debt. It also warned further downgrades are possible. Moody's rating on Italy is now lower than Estonia and on a par with Malta. That underlined growing investor concern about the euro zone's third largest economy, which is now firmly at the centre of the debt crisis:
Session 07: Objective 3 - Bond Ratings (2016)
 
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The Finance Coach: Introduction to Corporate Finance with Greg Pierce Textbook: Fundamentals of Corporate Finance Ross, Westerfield, Jordan Chapter 7: Interest Rates and Bond Valuation Objective 3 - Key Concepts: Bond Ratings High Grade Bonds Low Grade Bonds Junk Bonds Risk More Information at: http://thefincoach.com/
Views: 1450 TheFinCoach
S&P downgrades Illinois' bond rating to one step above junk
 
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Illinois cut near junk by S&P, lowest ever for a U.S. state http://www.chicagotribune.com/business/ct-illinois-bond-rating-20170601-story.html Previously: The Bo and Rocko Show May 31, 2017 https://www.youtube.com/watch?v=MU8h2Y-7s2A 2 bounty hunters & a fugitive die in a furious car dealership shootout https://www.youtube.com/watch?v=DrxF7N1tc0k Are you lost or did some'body' get you lost? https://www.youtube.com/watch?v=roSdW8r4Yqs A Series of Unfortunate Events / Depopulation; the Documentary https://www.youtube.com/watch?v=umv-HHBq8FE Kim Jong-un pledges to eliminate 'weak' North Koreans https://www.youtube.com/watch?v=kBUwQXWPaxE North Koreans 'sold to Europe to work then stripped of pay' https://www.youtube.com/watch?v=Xq-uCbMHNiU Satellite images reveal North Korea is expanding brutal prison camps https://www.youtube.com/watch?v=qBISMoH3Li8 Pedophile Portfolio https://www.youtube.com/watch?v=EIDmE9vBTPQ Jesus Reincarnate - The new meat gesuis https://www.youtube.com/watch?v=o2sbCgvz_5A Oxy Contin and Beezlebub https://www.youtube.com/watch?v=DhadMFIlTIY Humpty Dumpty https://www.youtube.com/watch?v=1hogz4jbdQM Conky reads Jeremiah 25: 34-38 - The Cry of the Shepherds https://www.youtube.com/watch?v=aIbG7gVleBE Machine Gun Sally https://www.youtube.com/watch?v=RmQunmmwLVg
What is High Yield Bond? | Definition of High Yield Bond
 
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What is High Yield Bond? | Definition of High Yield Bond: In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade. These bonds have a higher risk of default or other adverse credit events, but typically pay higher yields than better quality bonds in order to make them attractive to investors. Sometimes the company can provide new bonds as a part of yield which can only be redeemed after its expiry or maturity. Risk: The holder of any debt is subject to interest rate risk and credit risk, inflationary risk, currency risk, duration risk, convexity risk, repayment of principal risk, streaming income risk, liquidity risk, default risk, maturity risk, reinvestment risk, market risk, political risk, and taxation adjustment risk. Interest rate risk refers to the risk of the market value of a bond changing due to changes in the structure or level of interest rates or credit spreads or risk premiums. The credit risk of a high-yield bond refers to the probability and probable loss upon a credit event (i.e., the obligor defaults on scheduled payments or files for bankruptcy, or the bond is restructured), or a credit quality change is issued by a rating agency including Fitch, Moody's, or Standard & Poors. A credit rating agency attempts to describe the risk with a credit rating such as AAA. In North America, the five major agencies are Standard & Poor's, Moody's, Fitch Ratings, Dominion Bond Rating Service and A.M. Best. Bonds in other countries may be rated by US rating agencies or by local credit rating agencies. Rating scales vary; the most popular scale uses (in order of increasing risk) ratings of AAA, AA, A, BBB, BB, B, CCC, CC, C, with the additional rating D for debt already in arrears. Government bonds and bonds issued by government-sponsored enterprises (GSEs) are often considered to be in a zero-risk category above AAA; and categories like AA and A may sometimes be split into finer subdivisions like "AA−" or "AA+". ………………………………………………………………………………….. Sources: Text: Text of this video has been taken from Wikipedia, which is available under the Creative Commons Attribution-ShareAlike License Background Music: Evgeny Teilor, https://www.jamendo.com/track/1176656/oceans The Lounge: http://www.bensound.com/royalty-free-music/jazz Images: www.pixabay.com www.openclipart.com
Views: 26 Free Audio Books
Portugese bonds reach junk status
 
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http://www.euronews.net/ Fitch Ratings has downgraded Portugal's long term foreign and local currency bonds to BB+ from triple-B, from investment grade to junk. Short term, senior unsecured debt and commercial paper were also downgraded. Fitch has also lowered growth forecasts for 2012, when it now expects GDP to contract by three percent. Rival raters Standard and Poor still give Portugal investment status, while Moody's thinks the country is in an even worse state, rating it Ba2.
Providence's bond rating downgraded
 
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Fitch downgraded Providence's bond rating three steps to two notches above junk status
Views: 42 WPRI
What is HIGH YIELD DEBT? What does HIGH YIELD DEBT mean? HIGH YIELD DEBT meaning & explanation
 
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What is HIGH YIELD DEBT? What does HIGH YIELD DEBT mean? HIGH YIELD DEBT meaning - HIGH YIELD DEBT definition - HIGH YIELD DEBT explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade. These bonds have a higher risk of default or other adverse credit events, but typically pay higher yields than better quality bonds in order to make them attractive to investors. Sometimes the company can provide new bonds as a part of yield which can only be redeemed after its expiry or maturity. The holder of any debt is subject to interest rate risk and credit risk, inflationary risk, currency risk, duration risk, convexity risk, repayment of principal risk, streaming income risk, liquidity risk, default risk, maturity risk, reinvestment risk, market risk, political risk, and taxation adjustment risk. Interest rate risk refers to the risk of the market value of a bond changing due to changes in the structure or level of interest rates or credit spreads or risk premiums. The credit risk of a high-yield bond refers to the probability and probable loss upon a credit event (i.e., the obligor defaults on scheduled payments or files for bankruptcy, or the bond is restructured), or a credit quality change is issued by a rating agency including Fitch, Moody's, or Standard & Poors. A credit rating agency attempts to describe the risk with a credit rating such as AAA. In North America, the five major agencies are Standard & Poor's, Moody's, Fitch Ratings, Dominion Bond Rating Service and A.M. Best. Bonds in other countries may be rated by US rating agencies or by local credit rating agencies. Rating scales vary; the most popular scale uses (in order of increasing risk) ratings of AAA, AA, A, BBB, BB, B, CCC, CC, C, with the additional rating D for debt already in arrears. Government bonds and bonds issued by government-sponsored enterprises (GSEs) are often considered to be in a zero-risk category above AAA; and categories like AA and A may sometimes be split into finer subdivisions like "AA-" or "AA+". Bonds rated BBB- and higher are called investment grade bonds. Bonds rated lower than investment grade on their date of issue are called speculative grade bonds, or colloquially as "junk" bonds. The lower-rated debt typically offers a higher yield, making speculative bonds attractive investment vehicles for certain types of portfolios and strategies. Many pension funds and other investors (banks, insurance companies), however, are prohibited in their by-laws from investing in bonds which have ratings below a particular level. As a result, the lower-rated securities have a different investor base than investment-grade bonds. The value of speculative bonds is affected to a higher degree than investment grade bonds by the possibility of default. For example, in a recession interest rates may drop, and the drop in interest rates tends to increase the value of investment grade bonds; however, a recession tends to increase the possibility of default in speculative-grade bonds.
Views: 151 The Audiopedia
Why You Should Think Twice about High Yield Bonds | Common Sense Investing
 
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In this episode of common sense investing I will tell you why you should think twice about owning high yield bonds. Alternative investments are a broad category, so I have split this topic up into multiple parts. In Part One, I will tell you why high yield bonds don’t quite yield enough to justify their risks. My name is Ben Felix of PWL Capital and this is Common Sense Investing. I’ll be talking about a lot more common sense investing topics in this series, so subscribe and click the bell for updates. I want these videos to help you to make smarter investment decisions, so feel free to send me any topics that you would like me to cover. ------------------ Visit PWL Capital: https://goo.gl/uPcXg7 Follow PWL Capital on: - Twitter: https://twitter.com/PWLCapital - Facebook: https://www.facebook.com/PWLCapital - LinkedIN: https://www.linkedin.com/company-beta/105673/ Follow Ben Felix on - Twitter: https://twitter.com/benjaminwfelix - LinkedIn: https://www.linkedin.com/in/benjaminwfelix/ ------------------ Video channel management, content strategy & production by Truly Inc. - Website: http://trulyinc.com - Twitter: https://twitter.com/trulyinc
Views: 8262 Ben Felix
Why Moody's and S&P Bond Ratings Are Not Enough
 
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Individual corporate bonds can provide higher returns than bond funds and have less risk than stocks. Learn why bond investors need more than a credit rating and a yield to make successful corporate bond investments.
Views: 3796 BondSavvy
Bond, Junk Bond - "What Moody's trashes, We treasure" - Portugal's response to Moody's rating
 
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Bond visits Moody's in Madrid as a Portugal's ambassador - By Porto forward® - http://www.facebook.com/BondJunkBond
Views: 18744 Portoforward
[Economy Lecture] L2/P1: Debt securities: Credit Rating, Bond-Yield, Muni.Bonds, SEBI norms
 
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Language: Hindi, Topics Covered 1. Recap of banking sector lectures and minor updates as per latest monetary policy review (Feb 2015) and Committees for Small banks and Payment Banks 2. What is finance? Why should we start business with finance from elsewhere? 3. Type types of Financing mechanism: Debt Instrument vs Equity instruments 4. What is credit rating? What is India’s current credit rating? What factors affect it? 5. What’s the difference between Gilt Edged securities vs. Junk Bonds 6. What is bond yield and yield to maturity (YTM)? 7. How can higher bond yield and lower credit rating hurt a Government? 8. Difference between Bonds and Debentures? 9. Municipal bonds: History, their Importance in financing smart cities, SEBI’s 2015 guidelines for Municipal bonds. 10. OFCD and other types of Debentures Powerpoint available at http://Mrunal.org/download Venue: Sardar Patel Institute of Public Administration (SPIPA), Satellite, Ahmedabad, Gujarat,India Exam-Utility: UPSC CSAT, CDS, CAPF, SSC, IBPS, Banking, MBA interview
Views: 413565 Mrunal Patel
Session 07: Objective 3 - Bond Ratings
 
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The Finance Coach: Introduction to Corporate Finance with Greg Pierce Textbook: Fundamentals of Corporate Finance Ross, Westerfield, Jordan Chapter 7: Interest Rates and Bond Valuation Objective 3 - Key Concepts: Bond Ratings High Grade Bonds Low Grade Bonds Junk Bonds Risk More Information at: http://thefincoach.com/
Views: 4245 TheFinCoach
Mayor Rahm Emanuel on the city's bond rating
 
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Mayor Rahm Emanuel discussed Moody's Investor's Service dropping Chicago's bond rating to junk status during an interview with the Chicago Sun-Times in his office at City Hall on Thursday, May 14, 2015. | Ashlee Rezin/for Sun-Times Media
Views: 249 Chicago Sun-Times
What SA's downgrade to junk bond status means for you?
 
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Prof André Roux, USB and USB-ED faculty member, shares his insights with us on what the implications of the credit rating downgrade to junk bonk status means.
Views: 1681 USBExecEd
What are Bonds ? Types of bonds | Hindi
 
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In this video, I have explained What are Bonds Difference Between Bonds and Debentures Types of Bonds ---------------------------------------------- Share, Support, Subscribe!!! Facebook:https://www.facebook.com/BasicGyaan.F Twitter: https://twitter.com/BasicGyaan Instagram Myself: https://www.instagram.com/SunilSolves/... Google Plus: https://plus.google.com/1010703809019... Microphone i use : http://amzn.to/2xBYjBO About : BASIC GYAAN is a YouTube Channel, where you will find Videos on curious interesting topics related to Finance, Economics and Trending topics in Hindi, New Video is Posted Every week :)
Views: 138974 Basic Gyaan
DISCUSSION: SA economic outlook with Duma Gqubule
 
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Moody's is the only one of the three major rating agencies that still rates South African debt as investment grade. A downgrade into junk status could mean that some government and foreign investors will be barred from buying South African bonds which are used by government to raise money. So there could be a forced outflow of investment dollars. Since 2017 South Africa has been rated below investment grade by rating agencies Standard and Poor and Fitch. To discuss this further, I'm joined by Founding Director at the center FOR Economic Development and Transformation, Duma Gqubule. For more news, visit: sabcnews.com
Views: 164 SABC Digital News
Risk & Performance: Comparing Investment Grade & High Yield Corporate Bonds
 
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Take a closer look at the risk/reward profiles of investment grade and high yield corporate bonds in the current climate with S&P DJI’s J.R. Rieger and Shaun Wurzbach.
Money Management : How to Explain the Moody Bond Rating
 
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Bonds are rated by federal rating agencies in relation to how sound their underlying assets are, and Moody bond ratings are from a specific agency that gives ratings to various municipalities that putting up bond issues. Discover how A-rated bonds have lower risks with help from a registered financial consultant in this free video on Moody bond ratings. Expert: Patrick Munro Contact: www.northstarnavigator.com Bio: Patrick Munro is a registered financial consultant (RFC) with outstanding sales volume of progressive financial products and solutions to the senior and boomer marketplace. Filmmaker: Reel Media LLC
Views: 913 ehowfinance
Debt securities Explained | Bond , Debentures, Muni Bond, Credit rating | Banking Awareness
 
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In this video i am explaining Debt securities in which you will learn about Bond , Debentures, Muni Bond, Credit rating , Bond yield to maturity , face value , discounted bond , premium bond etc. Join Telegram Channel : https://t.me/studysmartbychandrahas Like Our Facebook Page: https://goo.gl/s4l4ZO Follow us on Twitter: https://goo.gl/rvVpDL Join Our Facebook Group : https://goo.gl/fGDu1d ****************************************************** Word Power Made Easy Series : https://goo.gl/6siIR5 Coding- Decoding New Pattern: https://goo.gl/SnrS6M Economics Lectures: https://goo.gl/XUYM30 Reasoning for SBI PO: https://goo.gl/61e9mi Syllogism New Pattern: https://goo.gl/KvzfbJ English New Pattern : https://goo.gl/Ci290c Data Sufficiency: https://goo.gl/NSxIUa All Reasoning Ability Videos : https://goo.gl/o4BwxS All Quantitative Aptitude Videos: https://goo.gl/p8jorg Binary Coding : https://goo.gl/Y2NN5Z Coding Decoding : https://goo.gl/TfxEsy Spotting Error : https://goo.gl/Xdll51 Order and Ranking : https://goo.gl/yM9tYu Static Gk : https://goo.gl/uEIPSL Alphanumeric Series : https://goo.gl/UKOEJF Mensuration : https://goo.gl/WcrD0U Direction Sense : https://goo.gl/3z1qGU Computer Awareness Videos : https://goo.gl/OccvRS Average Aptitude Tricks : https://goo.gl/t84F1l Reasoning puzzle tricks : https://goo.gl/eKnb8C Ratio and Proportion Tricks: https://goo.gl/Zepp2L Partnership Problems Tricks For IBPS PO :https://goo.gl/0pUwqn Time And Work Problems Shortcuts and Tricks: https://goo.gl/qn15Tp Percentage Problems Tricks and Shortcuts: https://goo.gl/krGtAe Time Speed and Distance : https://goo.gl/unELgn Probability : https://goo.gl/FswNBm Mixture and Alligation Tricks : https://goo.gl/TBqbEN Blood Relation Tricks : https://goo.gl/yAOE2C Permutations and Combinations Tricks : https://goo.gl/gSALX0 Quadratic Equations Tricks : https://goo.gl/ZDyDkW Profit and Loss Tricks: https://goo.gl/NOO6p6 Number Series Tricks: https://goo.gl/qcvqej Banking Awareness (Static) : https://goo.gl/JelscL Inequalities Short tricks: https://goo.gl/qQo2kc Speed Maths video : https://goo.gl/7er1OQ Simplification And Approximation:https://goo.gl/KO0ifm Simple & Compound Interest tricks : https://goo.gl/EpK2vf Data Interpretation All Parts : https://goo.gl/x6Xxeo Syllogism All Parts : https://goo.gl/ZwF9LF Complex Circular Arrangement: https://goo.gl/1hPLnN English Important Videos : https://goo.gl/tz0aQs English Vocabulary : https://goo.gl/mzZwRA Reasoning Puzzles : https://goo.gl/xPaatc Machine Input Output Reasoning Tricks :https://goo.gl/1G35uB View All Videos Chapterwise: https://goo.gl/UDGKv0 ************************************************************************************ Download the App: https://goo.gl/mXWbo6 Subscribe : https://goo.gl/p124ci Follow me on Facebook: https://goo.gl/f64AYb Follow me on Google+ : https://goo.gl/FoIvEh Thank You Chandrahas
Views: 38493 Study Smart
Moody's downgrades Chicago school and park district ratings
 
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One day after downgrading Chicago bond rating to junk status, Moody's Investors Service has downgraded the debt of both the Chicago Public Schools and the Chicago Park District to junk status. Moody's on Tuesday, downgraded the city's debt rating on bond issues backed by property, sales and fuel tax revenue to Ba1, one notch below investment grade, from Baa2. On Wednesday, Moody's gave a Ba3 rating to CPS debt, saying the district faces "increased strain on its precarious financial position" due to last week's Illinois Supreme Court decision overturning state pension reform. Moody's tied the reduction of the park district's rating to Ba1 to the district's "governance ties to the city of Chicago." Interim CPS CEO Jesse Ruiz says Moody's action reaffirms why the district must address its financial crisis. The following statement is from Interim CPS CEO Jesse Ruiz: “Today's triple downgrade was prompted by the Illinois Supreme Court's decision to overturn the state pension bill. While this decision should not have impacted CPS' credit rating – as Moody's did not downgrade the state when the court rejected the pension bill – it does reaffirm why we must address Chicago Public Schools' urgent financial crisis and finally bring equity to Chicago Public Schools and our city's taxpayers. Despite cutting more than $740 million from the Central Office and operations, we are projecting a deficit of $1.1 billion, driven by $700 million in pension costs. This crisis is now at our classroom doors and we urge Springfield to prioritize education funding and end the broken pension system that forces Chicago taxpayers to pay twice for teacher pensions.” The Chicago Teachers Union released the following statement regarding Moody's downgrade of the Chicago Public Schools bond rating: “The downgrade is an example of how the rating agencies work in concert with bond holders in pushing our city and schools to the brink by recklessly increasing termination fees and costs of borrowing. Today's action by Moody's induces further political panic to force the City to implement even more misguided fiscal decisions that will hurt our students and public schools,” said CTU spokeswoman Stephanie Gadlin. “Mayor Emanuel and his handpicked school board have refused to challenge big banks like Loop Capital and Bank of America for misrepresenting the risks of toxic swap deals or take responsibility for market conditions in the 2008 collapse that have greatly increased Chicago's liabilities. Additionally, rating agencies have consistently argued that the mayor must get more revenue and repair a rocky relationship with the CTU in order to improve Chicago's ratings. “Instead of heeding this advice, the mayor has provoked more labor discord by demanding a 7 percent reduction in compensation for teachers and paraprofessionals while promulgating a fiscal ‘crisis' of the Board's own making. He has also refused to support progressive revenue options like a LaSalle St. Tax, releasing the TIF surplus, suing the banks for toxic swaps, advocating for a Millionaires Tax and other revenue options.”
Credit Rating Agencies - Sovereign Debt S&P, Moody's & Fitch (2012)
 
01:22:41
The Committee will consider how accountable the major credit rating agencies are. CRAs rate bonds - government or corporate IOUs - to assess the likelihood of default. The three leading agencies are Standard & Poor's (S&P), Moody's and Fitch. 24 April 2012 BBC Parliament. - Moritz Kraemer, Sovereign Ratings Group, Standard & Poor's. - David Riley, Sovereign and Supranational Ratings, Fitch Ratings. - Alastair Wilson, Chief Credit Officer, Moody's.
Views: 1470 gmshadowtraders
Weekly Update #64 - High Yield Bonds
 
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*Script:* In Round portfolios, there’s reduced exposure to high yield bonds and increased exposure to municipal bonds. There appears to be limited reward relative to the risks associated with holding high yield bonds. A high yield bond is a corporate loan that theoretically should pay its investors a high level of income because there’s a great risk that the company may not be able to pay back the loan. The expected return of high yield bonds compared to less risky government bonds is near post crisis lows meaning the compensation is very limited for the incremental repayment risk associated with the loan. Some of the most prominent bond fund managers are saying that you should go up in credit quality and reduce credit risk. An example of this is by selling a high yield corporate bond and buying a less risky municipal bond. *Disclosures*: The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. The information provided does not take into account the specific objectives, financial situation or particular needs of any specific person. Diversification does not ensure a profit or protect against a loss in a declining market. There is no guarantee that any particular asset allocation or mix of funds will meet your investment objectives or provide you with a given level of income. Forecasts or projections of investment outcomes in investment plans are estimates only, based upon numerous assumptions about future capital markets returns and economic factors. As estimates, they are imprecise and hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Investing entails risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time. The theoretical definition of a high yield bond is paraphrased and extrapolated upon Investopedia’s article, “High-Yield Bond” for a non-Layman’s introduction to the concept. The expected return of high yield bonds relative to government bonds being near post crisis lows was in reference to the Bloomberg Barclays US Corporate High Yield Average OAS with a Bloomberg terminal ticker LF98OAS Index for the date range of 4/21/2008 – 4/18/2019. Some of the most prominent bond fund managers saying to go up in credit quality and reduce credit risk was in reference to the Barron’s article, “Corporate Credit Could Be the Next Bubble to Burst” by Randall W. Forsyth and in reference to the Bloomberg 4/17/2019 video interview with Guggenheim Partners’ Scott Minerd titled, “Guggenheim’s Minerd Says Fed Rate Pause Pushes Recession Back to Maybe 2021”. The example provided of moving up in credit quality and reducing credit risk assumes that the high yield bond has a lower credit rating than an investment grade municipal bond.
Views: 15 Round
Ratings agency stocks are junk
 
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Shares of S&P owner McGraw-Hill have plunged on concerns about a federal lawsuit. The news dragged down rival Moody's as well.
Views: 144 CNN Business
Rating agency downgrades South Africa to junk status
 
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Meanwhile S&P's decision to downgrade South Africa's local currency debt sent the rand tumbling. However, Moody's decision to only place South Africa on review for a downgrade may have prevented a larger sell-off in the currency. The rand weakened 2 percent against the dollar after S&P's announcement, moving from 13.9 Rand per dollar to a session low of 14.1675. It did stage a small recovery on Monday morning, helped by a very weak dollar. Analysts say Moody's hitting the pause button saved the country billions in potential bond outflows. But the downgrade to sub-investment grade by S&P implies that South African bonds will fall out of the Barclays Global Bond Index, with estimated outflows of up to $2 billion Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica
Views: 306 CGTN Africa

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