property-and-tech-firms-hit-hard-by-ratings-actions

Property and tech firms hit hard by ratings actions

A report by Moody's says property and technology firms in Asia suffered more negative ratings actions in the third quarter than any other sector.
Real estate and technology firms in Asia were the worst hit by credit rating downgrades and downward outlook revisions in the third quarter, according to a report released over the weekend.

The report by MoodyÆs Investor Services says negative rating actions continued to outnumber positive actions by 17 to 2 in the third quarter this year, compared with 18 to none in the second quarter of 2008. And real estate and technology were ahead of all other sectors in terms of the number of negative actions taken against them.

ôDuring 3Q 2008, the real estate and technology sectors accounted for most of the negative actions and, in the months ahead, technology, shipping and property firms...
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