UPDATE 1-S&P cuts ratings of four U.S. banks on worsening energy loans The rout in oil prices since 2014 has hurt banks that made loans to oil and gas companies across the United States. At a conference on Tuesday ahead of the downgrade, senior executives at Comerica Inc estimated it would need to set aside an additional $75 million to $125 million in loan-loss reserves over the course of a year if oil prices remain at $30 per barrel.
Asia stocks bounce; Nikkei surges nearly 6% Asian markets bounced Friday, tracking the rally in European and U.S. markets, getting a boost from an uptick in oil prices and comments from the ECB.
| By: Saheli Roy Choudhury
UPDATE 1-S&P cuts Poland's rating to BBB+ with negative outlook, zloty dives WARSAW, Jan 15- Rating agency Standard and Poor's unexpectedly cut Poland's credit rating by one notch to BBB+ on Friday, saying the new conservative government has weakened the independence and effectiveness of key institutions. "The downgrade reflects our view that Poland's system of institutional checks and balances has been eroded significantly," S&P...
| By: Marcin Goettig
S&P cuts rating on Poland's foreign currency rating to 'BBB plus' Jan 15- Standard and Poor's cut its long-term foreign currency sovereign credit rating on the Republic of Poland to' BBB plus' from' A minus', citing the legislative measures taken by the new government since October 2015. The outlook on Poland is negative, the ratings agency said. "Since winning the election in October 2015, Poland's new government has initiated...