Argentina central bank holds reference rate steady after eight cuts
BUENOS AIRES, Sept 27 Argentina's central bank held its reference rate at 26.75 percent on Tuesday, ending an eight-week cutting cycle as policymakers try to damp inflation.
Jan 8 - Standard & Poor's Ratings Services said today that its ratings and outlook on Transocean Inc. (BBB-/Negative/--) are unchanged following the company's agreement with the Department of Justice regarding the Macondo oil well disaster. We view the settlement, under which Transocean agrees to pay $1.4 billion over five years, as manageable given the company's sizable liquidity position and as a meaningful step toward resolving its exposure to the accident and oil spill. While the agreement reduces the likelihood that we will lower our ratings on Transocean, the company still faces other potential liability, including state and local claims, related to the spill and its credit ratios, though improving, remain weak for the rating. Our analysis indicates that Transocean's financial profile can absorb a maximum of approximately $4 million of total costs related to Macondo at the current rating.
NEW YORK, Sept 27 Royal Bank of Scotland Group Plc will pay $1.1 billion to resolve a U.S. regulator's claims that it sold toxic mortgage-backed securities to credit unions that later failed, the U.S. National Credit Union Administration said on Tuesday.
CHICAGO, Sept 27 Bonds sold by U.S. states, cities, schools and other issuers in the municipal market could be held as liquid assets by banks under legislation introduced on Tuesday in the U.S. Senate, bolstering the case for purchasing the debt while helping financial institutions weather market crises.