downgrade

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downgrade

Chiefly US and Canadian a downward slope, esp in a road
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
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Today's rating actions conclude the reviews for downgrade
The downgrades reflect Fitch's view that there is a lower support propensity from Barclays for BAGL and Absa given the parent's intention to sell its controlling stake in BAGL (which fully owns South African domestic bank, Absa) and deconsolidate the subsidiary (from both an accounting and regulatory perspective) over two to three years.
see "Moody's downgrades KBC Bank and KBC Group; outlook stable" published
At the same time, upgrades still outnumbered downgrades for a fourth consecutive year.
The sovereign downgrade was driven by increased downside risks to macroeconomic stability and the recent deterioration in economic policy credibility.
The ratings agency said that the downgrades reflect Greece's weaker economic prospects.
Economic analysts said that the recent credit downgrade given to Egyptian banks last week by the Fitch Group credit rating agency fails to take into account positive economy developments, particularly the country's recent securing of $12bn in financial aid from Gulf countries.
Moody's said the primary driver underlying the rating downgrades of these three banks is the reduced ability of the country to support its large banking system, which has an asset base equivalent to six times the country's GDP.
Robert Litan, a former Clinton administration budget official who is now vice president for research and policy at the Kauffman Group, told ABC News that the domino effect would likely continue with upcoming downgrades of states' and localities' credit ratings.
Negative rating pressure may also arise from downgrades of the issuers' ratings under Moody's expected loss methodology, which factors in an issuer's credit strength.