Entries from Chemicals & The Economy tagged with 'Moody's'
Moody's sees negative outlook for Asian petchems
Its not just the World Bank that is concerned about the outlook for East Asia. Today, Moody's (the ratings agency) says it has a negative outlook for the petrochemical sector over the next 12-18 months. It concludes: • "In response...
Moody's worries about the chemical industry
Moody's, the global ratings agency, is today forecasting a 70% chance of a U-shaped recession, and a 15% chance of either a V or L-shaped downturn. This broadly agrees with the blog's own view, set out a month ago. Moody's...
Dow's debt ratings cut - could hit junk status
Over the last few weeks, INEOS had to scramble to get a covenant waiver from its lenders, and Lyondell went into Chapter 11. Now Dow's debt is facing a potential cut to junk status from the main ratings agencies. Dow's...
Corporate defaults could reach 10%
Chemical company CFOs need to step up their monitoring of customers' creditworthiness. That's the clear message today from ratings agency Moody's, who report that corporate defaults are rising sharply. According to Moody's Director, Kenneth Emery, 'the pace of corporate defaults...
US housing weakens, UK follows
US housing markets are getting worse. Today’s S&P/Case-Schiller index showed prices declined 8.9% in December. Moody’s said that 10% of homeowners (8.8 million people) had negative equity in their homes. And unsurprisingly, given this background, bank repossessions rose 90% versus...
SABIC – S&P follow Moody’s
S&P have quickly followed Moody’s in putting SABIC Innovative Plastics’ debt on creditwatch for a downgrade. As I commented with the Moody’s downgrade, this is not really to do with a newly discovered decline in the polycarbonate market. S&P have...
Moody’s seasonal 'gift' for SABIC
Its always interesting to see the news stories that are slipped out just before major public holidays, when media attention is likely to be low. Only ICIS news seemed to spot the announcement by Moody’s that they were placing SABIC...
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