For your safekeeping against these loans you should read the terms and conditions carefully because unemployed cash loans are short term and collateral free loans. No collateral in these loans means that the lenders levy a bit high interest rate to repel the risk factors. On the other hand, credit history of the borrower is not checked so it generates risk for the lender. But you don’t need to worry because you can fetch an amount ranging from 100 to 1500 for the repayment term of 14-31 days. If this term is not suitable to your capacity then you can get extended it by giving nominal charge to the lender.

Unemployed cash loans are curved out especially for those people who have lost their current job due to their imperative task. They are now benefited with these loans as they can use the borrowed amount for various purposes such as paying off home installments, loans installments, electricity bills, child’s examination fees, car repairing bills, grocery bills and arranging the birthday party etc. These loans can also help the people to seek for another new job and bridge the gap between two jobs.

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Athens, Greece (AHN) – Credit rating agency Moody’s downgraded Greece’s sovereign debt rating again saying Greece had about a 50 percent chance of defaulting on or restructuring its debt within the next 5 years.

Moody’s downgraded Greece’s credit rating by debt by three notches from a B1 to a Caa1 and retained a negative outlook, indicating that more downgrades could come.

To put the Caa1 rating into perspective, it is only five steps above default, or four notches above Moody’s lowest rating and 16 down from the highest rating.

Greek government officials criticized Moody’s downgrade saying the agency had failed to take into account recently instituted government austerity measures.

Greece faces a government funding shortfall of $34 billion next year after last year’s $158 billion rescue proved insufficient to resolve the imbalance in government’s budget.

In the meantime, the Greek government is preparing to draw its next IMF bailout plan payment. However, some eurozone finance ministers say that the IMF might not make the payment if Greece is not able to persuade IMF officials that Greece can remain solvent for the next 12 months.

The only nation that Moody’s rates worse than Greece is Ecuador, now at a Caa2; Ecuador defaulted in 1999 and in 2008. Other nations that Moody’s currently rates a Caa1 include Pakistan and Cuba.

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London, England, United Kingdom (AHN) – Credit ratings agency Moody’s placed major British banks on review because of a new British government policy that no bailout would be provided to financial institutions with problems.

Moody’s hinted that 14 banks and building societies may face possible credit rating downgrades over its senior debt and deposit ratings.

The 14 banks and building societies for review include Lloyds, Royal Bank of Scotland and Santander UK.

Elisabeth Rudman, senior credit officer and bank analyst at Moody’s, said the review is not because of the financial institution’s deterioration in the banking system’s financial strength or the government, but in response to the coalition government’s guidance on the no bailout policy.

Moody’s review, expected to last for three months, could cause an increase in the banks’ borrowing costs. The review includes an assessment of the level of government support available and other factors that could lead to a rating downgrade.

The 11 other banks and building societies that would undergo the Moody’s review are:

• Bank of Ireland Cooperative
• Bank Coventry Building Society
• Nationwide Building Society
• Newcastle Building Society
• Norwich & Peterborough Building Society
• Nottingham Building Society
• Principality Building Society
• Skipton Building Societ
• y West Bromwich Building Society, and
• Yorkshire Building Society.

Barclays and Hong Kong and Shanghai Banking Corporation are excluded from the review, but Moody’s have downgrade Barclays to a negative rating from stable and affirmed HSBC’s negative rating.

It is not only the British banks which have been downgraded or are at the risk of a downgrade by ratings agencies. Even the British government’s local and foreign currency sovereign credit rating suffered.

Dagong Global Credit Rating Company, a Chinese rating agency, downgraded U.K.’s rating on Tuesday to A+ from AA- with a negative outlook for solvency. Dagong explained the downgrade to the worsening debt repayment capability of Britain and difficulty in improving its sovereign credit level in a moderately long term basis.

The Chinese rating agency, which had blamed Moody’s, Fitch and Standard & Poor’s for the global financial crisis for failing to properly disclose risk of western banks, said it expects Britain’s economy to register minimal or no improvement in the next 24 months.

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