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CALIFORNIA | LOCAL
June 14, 1996
A major Wall Street bond rating agency took Los Angeles County off credit watch Thursday but said the outlook for the county's rating remains negative unless the Board of Supervisors makes more progress at bringing spending under control. Standard & Poor's said in a statement that the county's long-term credit ratings will remain at the same low level as last August. While the county's fiscal problems remain serious, its budget is no longer in the crisis of last summer, the agency said.
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OPINION
February 9, 2013
Reader Gary M. Barnbaum, an accountant and management consultant in Woodland Hills, took issue with The Times' editorial Wednesday about the federal and state lawsuits against Standard & Poor's. Although the editorial board welcomed the scrutiny of the credit rating agency's bullish stance on mortgage-backed securities, it noted that "if the bubble hadn't burst, S&P's ratings wouldn't have proved so horribly wrong. " It's one thing to deliberately mislead people, but "simply offering a bad opinion based on poorly drawn assumptions shouldn't be grounds for liability.
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BUSINESS
July 17, 1987 | JOHN TIGHE, Times Staff Writer
Moody's Investors Service assigned an A1 rating Thursday to $235 million in revenue bonds for construction at the John Wayne Airport. Earlier this week, Standard & Poor's assigned the bonds a slightly lower A-minus rating. The ratings by the nation's largest credit rating agencies bolstered airport boosters' contention that there will be continued great demand for air travel in Orange County, guaranteeing the financial success of the airport.
BUSINESS
June 15, 2012 | By Tiffany Hsu
Nokia Corp., the Finnish phone maker already in a world of hurt, had its credit rating downgraded to junk status by Moody's Investors Service on Friday. The company's rating fell a notch to Ba1, from Baa3, and is now held at junk status by all three major credit ratings agencies, including Fitch and Standard & Poor's. On Thursday, the company said it would slash 10,000 jobs by the end of 2013, shut down several research and manufacturing facilities and restructure the business.
BUSINESS
June 5, 2012 | By Andrew Tangel
Stocks edged higher Tuesday on Wall Street following an economic report showing increased activity in non-manufacturing sectors. Europe still loomed larger over world financial markets, however, as G7 financial leaders discussed the continent's debt crisis and Spain warned it could be shut out of bond markets. The Dow Jones industrial average gained 23 points, or 0.2% to 12,125 shortly after the opening bell. The broader Standard & Poor's 500 index was up 5 points, or 0.4%, to 1,283.
OPINION
February 9, 2013
Reader Gary M. Barnbaum, an accountant and management consultant in Woodland Hills, took issue with The Times' editorial Wednesday about the federal and state lawsuits against Standard & Poor's. Although the editorial board welcomed the scrutiny of the credit rating agency's bullish stance on mortgage-backed securities, it noted that "if the bubble hadn't burst, S&P's ratings wouldn't have proved so horribly wrong. " It's one thing to deliberately mislead people, but "simply offering a bad opinion based on poorly drawn assumptions shouldn't be grounds for liability.
BUSINESS
June 15, 2012 | By Tiffany Hsu
Nokia Corp., the Finnish phone maker already in a world of hurt, had its credit rating downgraded to junk status by Moody's Investors Service on Friday. The company's rating fell a notch to Ba1, from Baa3, and is now held at junk status by all three major credit ratings agencies, including Fitch and Standard & Poor's. On Thursday, the company said it would slash 10,000 jobs by the end of 2013, shut down several research and manufacturing facilities and restructure the business.
CALIFORNIA | LOCAL
May 15, 2012 | By Chris Megerian, Los Angeles Times Staff Writer
The ratings agency Standard & Poor's warned on Tuesday that it could downgrade California's financial outlook if lawmakers don't pass a credible budget plan this year. A final budget is due June 15, and lawmakers' task has become increasingly difficult as the state's deficit has swelled to nearly $16 billion. "We could change the outlook to negative or lower the rating if we believe the state's credit quality weakens through the budget process," said a report from Standard & Poor's.
CALIFORNIA | LOCAL
December 7, 1999
THQ Inc., Calabasas, said it has been added to Standard & Poor's S & P SmallCap 600 index. The market-value weighted index consists of 600 domestic stocks chosen for market size, liquidity and industry group representation. The company also announced the completion of a three-for-two stock split reported in October. Shareholders of record as of Nov. 15 received 50% stock dividends on Dec. 1. THQ Inc.
BUSINESS
March 13, 2012 | By Walter Hamilton
It looks like actively managed stock funds can't beat the market -- even when the market itself is struggling. More than four out of five actively managed U.S. stock funds trailed their underlying indexes in 2011, even though the stock market plodded through an uninspiring year, according to new research . An analysis by Standard & Poor's Corp. found that 84% of funds underperformed last year. That's even worse than their dismal showings in the recent past. Over the last three years, 57% of funds trailed their indexes.
BUSINESS
June 5, 2012 | By Andrew Tangel
Stocks edged higher Tuesday on Wall Street following an economic report showing increased activity in non-manufacturing sectors. Europe still loomed larger over world financial markets, however, as G7 financial leaders discussed the continent's debt crisis and Spain warned it could be shut out of bond markets. The Dow Jones industrial average gained 23 points, or 0.2% to 12,125 shortly after the opening bell. The broader Standard & Poor's 500 index was up 5 points, or 0.4%, to 1,283.
CALIFORNIA | LOCAL
May 15, 2012 | By Chris Megerian, Los Angeles Times Staff Writer
The ratings agency Standard & Poor's warned on Tuesday that it could downgrade California's financial outlook if lawmakers don't pass a credible budget plan this year. A final budget is due June 15, and lawmakers' task has become increasingly difficult as the state's deficit has swelled to nearly $16 billion. "We could change the outlook to negative or lower the rating if we believe the state's credit quality weakens through the budget process," said a report from Standard & Poor's.
CALIFORNIA | LOCAL
June 14, 1996
A major Wall Street bond rating agency took Los Angeles County off credit watch Thursday but said the outlook for the county's rating remains negative unless the Board of Supervisors makes more progress at bringing spending under control. Standard & Poor's said in a statement that the county's long-term credit ratings will remain at the same low level as last August. While the county's fiscal problems remain serious, its budget is no longer in the crisis of last summer, the agency said.
BUSINESS
July 17, 1987 | JOHN TIGHE, Times Staff Writer
Moody's Investors Service assigned an A1 rating Thursday to $235 million in revenue bonds for construction at the John Wayne Airport. Earlier this week, Standard & Poor's assigned the bonds a slightly lower A-minus rating. The ratings by the nation's largest credit rating agencies bolstered airport boosters' contention that there will be continued great demand for air travel in Orange County, guaranteeing the financial success of the airport.
BUSINESS
September 6, 2002 | Reuters
U.S. credit card companies wrote off fewer bad loans in July than in June, suggesting that more people are meeting their debt obligations despite a sluggish economy, bond rating service Standard & Poor's said. S&P's credit card charge-off rate, which gauges the level of bad loans that credit card issuers write off, slipped to 6.8% in July from 6.9% in June, but was still higher than the 6.6% rate in the same period a year ago.
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