Shouldering the burden of spending to limit the damage inflicted by the coronavirus outbreak could put Germany’s triple-A credit rating at risk, writes Dhara Ranasinghe for Reuters, citing research from Credit Benchmark.
The research suggests that the United States and Italy could also both be at risk of credit deterioration as a result of the large stimulus packages pledged to mitigate economic damage from the virus.
“Germany’s massive stimulus package means that it needs to suspend its adherence to its self-imposed balanced budget rule, and the underlying probability of default at 1.24 basis points, puts it very close to being downgraded …”, said David Carruthers, head of research at Credit Benchmark in London.
Reuters, March 27, 2020.
View original article (external link).
Credit Benchmark, a new startup that will provide aggregated analysis of trading firms’ proprietary credit ratings and risk assessments, has Read more
London-based startup consensus credit ratings provider Credit Benchmark has begun its proof-of-concept phase with an undisclosed number of contributing banks, Read more
Credit Benchmark received wide-ranging press coverage on its $7MM Series A financing. All Media Ny http://www.allmediany.com/news/27081-index-leads-7m-round-in-banking-ben... Financial News http://www.efinancialnews.com/story/2014-07-09/credit-risk-data-startup-... Finextra Read more
London tech firms attracted a record $1bn (£626m) of venture capital investment in just the first nine months of 2014. Read more
