Fitch Ratings – DIGIT INFO

Report Reveals Hundreds of US Banks at Risk of Failure Amid High Interest Rate Environment

DIGIT — Fri, 03 May 2024 18:34:15 +0000

Following the dramatic bank failures last year and the recent collapse of Philadelphia’s Republic First Bank last week, an analysis by Klaros Group indicates that hundreds of U.S. banks are at risk of failure. The study reveals that smaller and regional banks are experiencing stress due to burdensome commercial real estate loans and the current […]

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Latam Insights: Bolivia Sells Gold for Dollars, Argentina Bans Fintech Crypto, Fitch Upgrades El Salvador’s Credit Rating

DIGIT — Mon, 08 May 2023 10:04:57 +0000

Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, Bolivia passes a law to sell gold for dollars, the Central Bank of Argentina bans fintech companies from using crypto, and Fitch improves El Salvador’s credit rating. Bolivia Passes Law […]

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Moody’s Warns of Potential Financial Disruption Spillover Beyond US Banking Sector

DIGIT — Sat, 25 Mar 2023 10:00:07 +0000

Roughly ten days ago, the credit agency Moody’s Investors Service downgraded the U.S. banking sector from “stable” to “negative.” In a recent update on Thursday, the company stated that there is still a risk to the U.S. economy. The managing director of credit strategy at Moody’s explained that the country “will be unable to curtail […]

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Salvadoran President Nayib Bukele Takes Aim at Bitcoin Detractors, Says the Ones Who Are Afraid ‘Are the World’s Powerful Elites’

DIGIT — Sun, 09 Oct 2022 06:00:59 +0000

It’s been over a year since El Salvador codified bitcoin as legal tender in the Latin American country, and by popping the ‘orange pill,’ the country was propelled into the international spotlight. At the end of September, the 41-year-old Salvadoran president Nayib Bukele penned an opinion editorial that takes aim at the detractors who think […]

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Bitcoin-Embracing El Salvador President’s Re-Election Declaration Slammed

DIGIT — Tue, 20 Sep 2022 10:00:39 +0000

Just over a year after overseeing El Salvador’s adoption of bitcoin, the Central American country’s 41-year-old president, Nayib Bukele, recently declared his intention serve another five-year term. The announcement has been criticized by some who have been quick to remind Bukele that El Salvador’s constitution prohibits presidents from serving consecutive terms. Re-Election of Presidents a […]

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Fitch Ratings Downgrades El Salvador Deeper Into Junk Status Citing Bitcoin Risks

DIGIT — Thu, 10 Feb 2022 22:30:55 +0000

One of the largest rating agencies in the U.S., Fitch Ratings, has downgraded El Salvador’s long-term default rating deeper into junk status, citing risks from adopting bitcoin as legal tender as a key reason. “The adoption of bitcoin as legal tender has added uncertainty about the potential for an IMF program that would unlock financing […]

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Big Three Credit Agency Fitch Says Stablecoin Growth Could Be ‘Disruptive’ to Securities Markets

DIGIT — Mon, 18 Oct 2021 17:30:17 +0000

American credit rating agency Fitch Ratings, one of the ‘Big Three’ credit rating agencies, has published a report that says stablecoin growth could affect securities and commercial paper (CP) markets. The agency says stablecoins could be “disruptive” and “stablecoin-related turbulence” could “transmit shocks” to other markets. Fitch Ratings: ‘Stablecoins Could Be Disruptive for CP Markets’ […]

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The Big Three Credit Agencies Critique El Salvador’s Bitcoin Adoption — S&P Global Warns of ‘Immediate Negative Implications’

DIGIT — Fri, 17 Sep 2021 22:00:58 +0000

All of the ‘Big Three’ credit agencies have said that El Salvador’s adoption of bitcoin could affect the country’s credit rating in a negative manner. After both Moody’s and Fitch Ratings published reports on the matter in El Salvador, S&P Global said that the bitcoin adoption has had “immediate negative implications for its credit rating.” […]

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Big Three Credit Agency Fitch Warns El Salvador Adopting Bitcoin Will Negatively Affect Insurers

DIGIT — Tue, 17 Aug 2021 15:00:28 +0000

Fitch Ratings, the American credit agency and member of the ‘Big Three’ credit agencies, has published a paper on El Salvador’s adoption of bitcoin and making the crypto asset legal tender in the country. Fitch believes that after the country enforces the new tender law it will face “volatility risk” alongside “regulatory and operating risks” […]

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