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SP Downgrade posts

Dollar follows UK downgrade and trades at five-month low

Posted May 22nd 2009 11:30AM by Connie Madon (RSS feed)
Filed under: International Markets, Market Matters

Yesterday S&P downgraded its outlook for the British economy to "negative" because government debt in the U.K. may equal 100% of GDP. The pound tumbled on the news.

Today the dollar followed suit and dropped to a five-month low, indicating just how fast these markets can move. The drop was blamed on yesterday's downgrade. The dollar fell 0.4% to $1.3941 against the euro, 0.1% against the pound to $1.5839 and 0.2% to Y94.17 against the yen. The dollar index, which is valued against a basket of currencies, dropped 0.2% to $80.349

Continue reading Dollar follows UK downgrade and trades at five-month low

GE finally gets that S&P downgrade

Posted Mar 12th 2009 10:40AM by Jon Ogg (RSS feed)
Filed under: General Electric (GE)

Debt ratings downgrades are supposed to be bad, but sometimes they are not so bad for shareholders. General Electric Co. (NYSE: GE) took a credit rating downgrade from Standard & Poor's Ratings Services this morning.

What is interesting is that this has been effectively telegraphed for nearly three months. The tone of the downgrade may also be much "less bad" than many were expecting. The downgrade was taken to 'AA+' from 'AAA.' The rating outlook is also now listed as Stable.