September 2009

Canadians’ credit card debt mounts (CBC via Yahoo! Canada News)

Canadians are increasingly racking up debt on their credit cards, according to a major U.S. financial ratings firm.

Business booms for debt settlement (USA Today)

The economic downturn has increased demand for companies that claim they can make consumers’ credit card debt disappear. But many consumers who sign up for these services end up with even more debt, along with seriously damaged credit scores, consumer advocates say.

As lenders clamp down, credit scores take a hit (USA Today)

Long after the economy recovers, millions of Americans will be left with a grim legacy of the recession: damaged credit scores, the three-digit ratings that help determine consumers’ ability to get loans and other types of credit.

Credit Markets: The Default Deluge (BusinessWeek)

This year will see a record volume of default in corporate debt, in line with expectations, as the U.S. continues to be the epicenter of economic and credit-market weakness

Italy warned to cut debt (Straits Times)

ROME – ITALY has fared relatively well in the economic crisis but must scale back public debt that is expected to rise to 120 per cent of gross domestic product (GDP) by 2010, Fitch ratings agency warned on Monday. Fitch, which rates the credit risk of companies and governments, also affirmed Italy’s long-term Issuer Default Ratings at AA- with a stable outlook and said it expected the economy …

AMR plans to sell 30M shares, issue $250M in debt (AP via Yahoo! News)

The parent of American Airlines plans to issue new stock and debt in a move to raise more than $500 million as it heads into the slower fall and winter travel season.

Digging out from $80,000 in debt (CNN)

Two years ago, Dawn Warfield was drowning in debt.

S&P raises Carter’s debt rating 1 notch (San Francisco Chronicle)

Standard & Poor’s raised its rating on Carter’s Inc.’s corporate debt by a notch to the highest rating still in junk territory and kept its outlook as stable. The rating was raised to BB+ from BB. Standard & Poor’s credit analyst Bea Chiem said the rating… Sponsored Topics: Standard & Poor – Bond credit rating – Corporate bond – Business – Financial services

1. Credit counseling, debt-management programs — it’s all the same. (Bankrate.com)

Credit counseling involves helping consumers develop a budget and the discipline to make steady payments to clear their debt loads. In a word, it’s education.

Government Debt Swaps Index Starts as Corporate Gauges Roll (Bloomberg)

Sept. 21 (Bloomberg) — The latest series of indexes measuring the cost of protecting corporate bonds from default started trading today, along with a new benchmark credit-default swaps index on government debt.

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