Logan Board meeting, Brad McCormick, chief financial officer, told trustees that Moody's, the bond credit rating
business, had dropped the negative outlook on the college's credit rating and affirmed its A3 rating while noting its debt, $27.
The CBE's recent decision to raise the cap on dollar deposits from $50,000 to $250,000 per month for local companies will not mitigate pressures on foreign currency liquidity that banks are facing, international bond credit rating
agency Moody's said in a report issued Monday.
The 2012-13 Cypriot financial crisis involved the exposure of Cypriot banks to overleveraged local real estate companies, the Greek government-debt crisis, the downgrading of the Cypriot government's bond credit rating
to junk status by international credit rating agencies, the consequential inability to refund its state expenses from the international markets and the reluctance of the government to restructure the troubled Cypriot financial sector.
According to the bond credit rating
scale, a Caa3 rating means that "the obligor is currently vulnerable, and is dependent upon favourable business, financial, and economic conditions to meet its financial commitments," while a B3 rating means that "the obligor is less vulnerable in the near term than other lower-rated obligors.
Economic growth, combined with increasing confidence and the ongoing real estate market recovery, will support credit growth of seven to 10 per cent in 2014, said Moody's, the bond credit rating
business of Moody's Corporation.
Moody's, the bond credit rating
business of New York City-based Moody's Corporation, declared that a variety of outside pressures continue to restrict growth of hospitals, including federal cuts to medical spending and limited reimbursement increases from insurers.