Moody's Investors Service, ("Moody's") has today affirmed all ratings and assessments of the three rated Mauritian banks, namely: Mauritius Commercial Bank Limited ("MCB"), SBM Bank (Mauritius) Ltd. ("SBM"), and Absa Bank (Mauritius) Limited ("Absa Mauritius"). As part of the same rating action Moody's has changed the outlook to negative from stable on MCB's and Absa Mauritius' ratings.
Although banks in Europe and the United Kingdom have halted dividends on regulators’ urging, U.S. bank payouts continue to look safe for a variety of reasons.
(Bloomberg Opinion) -- Banks insist they’re in much better shape than they were during the run-up to the 2008 financial crisis. This time, as the coronavirus lockdowns wreck output, lenders can be “doctors of the economy,” in the words of one industry executive. True, banks have much larger capital buffers and better access to funding than was the case 12 years ago. How smart they've been at running their trading businesses remains to be seen.Some of Europe’s biggest banks have gone into the worst economic contraction since the Second World War sitting on huge piles of complex, risky ...
With the future of many coronavirus hit firms in their hands, British banks, still scarred by the financial crisis, are worried that they are being asked by a desperate government to make loans that will never be repaid. This caution, combined with the challenges of an unprecedented demand for loans, is testing the British public's fragile faith in the lenders, which have spent a decade trying to rebuild their battered reputations and capital positions. "We've got to only make loans that we can reasonably believe people will be able to repay after the crisis has gone; to businesses which ...
(Bloomberg) -- The number of Americans applying for unemployment benefits soared to a record 6.65 million last week, a level unimaginable just a month ago.As states shut down commerce to prevent the deadly coronavirus from spreading, the weekly claims data have been among the first detailed figures to show the devastating economic hit, highlighting the extent to which U.S. businesses and workers are reeling from the global health crisis.The figures also may add to pressure on the federal government to ensure that aid payments and loans under the $2 trillion stimulus package flow quickly to ...
(Bloomberg Opinion) -- A headline from three days ago read “Banks Stuck With $23 Billion of Loans for T-Mobile’s Sprint Deal.” A group of 16 banks would have to provide money to T-Mobile US Inc. to close its planned acquisition of Sprint Corp. because they couldn’t sell debt to third-party investors. T-Mobile would refinance the bridge loan in the bond market as soon as financing conditions improved.Well, that was quick.The mobile carrier plans to tap the corporate-bond market Thursday with a deal of about $10 billion, with proceeds helping repay that $19 billion bridge credit agreement (it ...
