Tag: Fitch rating

Written by Diane Benjamin - editor

Fitch proved why credit ratings are a joke

By: Diane Benjamin Fitch downgraded the US credit yesterday: https://www.msn.com/en-us/money/other/shock-u-s-credit-rating-downgrade-by-fitch-rings-alarm-bells-about-economy/ar-AA1eGOTE This is a quote from the story: According to the company, despite the fact that the debt ceiling standoff was resolved two months ago, “the repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management.“ Let me interpret: Fitch would rather see […]

Written by Diane Benjamin - editor

Normal Monday: Likely SHORT meeting

By: Diane Benjamin Have you been following the debt ceiling debate? Did you hear Fitch is threatening to downgrade the US credit rating because increasing the debt ceiling was controversial? Fitch is the only credit rating service that has the Town of Normal at AAA. Now you know why. Fitch is delighted with Normal’s new […]

Written by Diane Benjamin - editor

Normal really has a AAA credit rating?

By: Diane Benjamin https://onlinelibrary.wiley.com/doi/pdf/10.1111/1468-0416.00029 Fitch does have Normal at AAA, did Normal pay to get that rating? Moody’s doesn’t have Normal at AAA: https://finance.yahoo.com/news/normal-town-il-moodys-assigns-230707753.html This story is based on the $2 million debt Normal recently refinanced instead of paying it off. QUOTE: RATING OUTLOOK The stable outlook incorporates our expectation that the town’s financial position […]

Written by Diane Benjamin - editor

Bloomington Credit AA+, see WHY!

By:  Diane Benjamin Fitch hasn’t changed Bloomington’s credit rating from AA+, but you need to understand why.  See the story here:  http://finance.yahoo.com/news/fitch-affirms-bloomington-ils-gos-182900665.html They seem to have miss the local RISING unemployment rate, even though the story does mention Mitsubishi closing. The article has much more information. I’m sure Mayor Renner will tout his great management. […]