junk status

Petrobras Absorbs Shock On Latest Downgrading By Moody’s- Securing $10 Billion Loan From China

China has represented itself as a familiar lender to the Latin American Countries and businesses fighting for debts. In a similar approach, it has extended loan facility to Brazilian indebted oil giant Petrobras for $10 billion securing oil for Chinese companies. The announcement has appeared just after the latest downgrading by Moody’s to junk status following several other credit rating agencies.

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Anglo American loss widens on write-downs

Anglo American Plc suffered a pre-tax loss of $5.5 billion (£3.8bln) for 2015 year. The 2015 loss was more than twice the loss incurred in 2014. As part of its future strategy, Anglo American is planning to shift its focus to copper, platinum and diamonds.

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Morgan Stanley granted dismissal for Dexia complaint

Judge Eileen Bransten dismissed the complaint of Dexia AG as it had no right to sue or claim on securities that were bought at face value.

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