LDK Solar experiences loss

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/Reuters

LDK Solar Co., the Xinyu City, China, producer of solar energy products reports about loss in Q3 caused by decline in sales by 30%.The loss is estimated as $114.5 million compared to net profit of $93.4 million in the same period in 2010. The demand was lower than anticipated, said Xiaofeng Peng, Chief Executive. The total sales for the year projected by the company are $2.25 billion being close to FactSet's forecast of $2.3 billion.

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Tue, 22 Nov 2011 14:20:45 GMT

Moody's downgrades Norwegian Eksportfinans to Ba1

Today Moody's Investors Service announced it downgraded Norwegian export credit institution Eksportfinans from Aa3 to Ba1 also known as junk. The downgrading is imposed after Norwegian government took over the support of country's export industry by granting its loans. Rating agency claimed Eksportfinans's excessive focusing on sole exposures was as an additional reason for downgrading.

Tue, 22 Nov 2011 14:15:27 GMT

Spain credit rating is not impacted by election

Standard & Poor's Ratings Services announced Spain AA-minus credit rating was not impacted by the outcome of general election on Sunday where centre-right Popular Party has won. The credit rating agency admits that new government can facilitate implementation of reforms but the overall situation in the country remains pessimistic taken high debt and increase in unemployment. Spain's cost of borrowing decreased by 2 basis points to

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