Moody's downgrades Credit Suisse's senior unsecured debt and deposit ratings

Reuters2021-07-13

ZURICH, July 13 (Reuters) - Moody's on Tuesday downgraded Credit Suisse's senior unsecured debt and deposit ratings, saying risks related to the Archegos and Greensill affairs would take significant ...

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Jo16
2021-07-13
Jo16
Like
- KMK:
  done..plz like bck
moneytools
2021-07-13
moneytools
Yes, correct

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(Reporting by Brenna Hughes Neghaiwi Editing by Riham Alkousaa and John Revill)</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Moody's downgrades Credit Suisse's senior unsecured debt and deposit ratings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMoody's downgrades Credit Suisse's senior unsecured debt and deposit ratings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-13 14:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/1-moodys-downgrades-credit-suisses-061120679.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ZURICH, July 13 (Reuters) - Moody's on Tuesday downgraded Credit Suisse's senior unsecured debt and deposit ratings, saying risks related to the Archegos and Greensill affairs would take significant ...</p>\n\n<a href=\"https://finance.yahoo.com/news/1-moodys-downgrades-credit-suisses-061120679.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/1-moodys-downgrades-credit-suisses-061120679.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2151590005","content_text":"ZURICH, July 13 (Reuters) - Moody's on Tuesday downgraded Credit Suisse's senior unsecured debt and deposit ratings, saying risks related to the Archegos and Greensill affairs would take significant bank resources to resolve.\n\"As indicated by similar cases in the past, the investigation and remediation of these matters will likely consume a significant amount of bank resources and managerial focus and take time to resolve, during which CS will remain vulnerable to the aforementioned risk factors,\" the rating agency said in a note.\nSwitzerland's second-largest lender has been reeling from the fallout of two scandals that hit the bank in March.\nFirst it was forced to wind down $10 billion in funds linked to collapsed supply chain finance firm Greensill and then suffered billions in losses after family office Archegos imploded.\nMoody's on Tuesday downgraded its long-term senior unsecured debt and deposit ratings of Credit Suisse by one notch to A1 from previously Aa3, pointing to deficiencies in the bank's risk management.\nThe agency also highlighted potential additional financial strains from the Archegos and Greensill matters, and the potential for client defections and franchise impairment as cause for concern.\n\"Although Moody's anticipates that CS will enhance its governance and risk management practices, including implementing the recommendations resulting from internal and external investigations, the extent and effectiveness of these measures will remain uncertain for some time,\" Moody's said.\n\"In addition, the final financial and reputational implications of the aforementioned events for CS also remain unclear.\"\nA framework revision had also reduced its views on Credit Suisse's capacity to absorb unexpected losses, it said.\nIt affirmed Baa1 ratings on long-term senior unsecured debt, and said the outlook for Credit Suisse's ratings was now stable.\nMoody's said it expected the bank to be able to contain further possible reputational effects and did not expect strategic adjustments to meaningfully impair Credit Suisse's ability to deliver on mid-term profitability goals. (Reporting by Brenna Hughes Neghaiwi Editing by Riham Alkousaa and John Revill)","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":10,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2151590005"}