EDITION: US | UK | Canada
Thecapitalpost.com - Breaking, International, Business, Sports, Entertainment, Technology and Video NewsThecapitalpost.com - Breaking, International, Business, Sports, Entertainment, Technology and Video News
Sign In|Sign Up
 
 
Bridging The Gap
Equifax shares plunge on cyberattack news.
  Saturday 09 September, 2017
Equifax shares plunge on cyberattack news.

Shares of Equifax shed more than 13% of their value in Friday trading, one day after the credit reporting company revealed that personal data on nearly half of all U.S. consumers potentially had been compromised.

The Atlanta-based company said Thursday that about 143 million U.S. consumers could be affected by a cybersecurity attack carried out by suspected criminal hackers. That's about 44% of the U.S population.

Equifax shares closed down $19.49 or nearly 13.7% at $123.23.

Raj Joshi, a Moody's vice president and senior analyst, in a Friday note termed the cyberattack a negative credit factor for Equifax "because it will impede the company's solid earnings growth over the next three to four quarters and hurt its reputation as a custodian of consumer data for over 200 million consumers."

However, Moody's maintained Equifax's Baa1 senior unsecured rating and stable outlook "because we expect the impact of the security breach will only modestly erode" the company's "solid credit metrics and liquidity," wrote Joshi.

The hacking attacks occurred from mid-May through July 2017 and primarily involved names, Social Security numbers, birth dates, addresses and, in some cases, driver's license numbers. Equifax said it first detected the cyberbreach on July 29.

The hackers gained access to credit card numbers for roughly 209,000 consumers, plus certain dispute documents with personal identifying information for approximately 182,000 consumers.

Source: https://www.usatoday.com/story/money/2017/09/08/equifax-shares-tumble-after-data-hack-announcement/645146001/

Bookmark and Share
 
Post Your Comments:
Name :
*
City / State:
*
Email address:
*
Type your comments:
*
Enter Security Code:   


 Latest News »
 
  Trump says he's made a decisio...
  President Trump pays tribute t...
  Trump to spend weekend at Camp...
  Trump: Hurricane Harvey recove...
  Hurricane Irma forms in Atlant...
  Texas has 53,488 bridges. Here...
  Here are the worst hurricanes ...
  Cautioning against 'hasty' pul...
  Trump's alienation of Congress...
  President Trump defends Charlo...
  President Trump plans to decla...
  Trump agenda still in limbo as...
  Denying 'chaos' at the White H...
  Trump says GOP senators 'look ...
  Pakistan PM Nawaz Sharif disqu...
  Trump attacks Attorney General...
  Trump isn't changing, and that...
  Trump calls Donald Trump Jr's ...
  Here's the Putin-connected Rus...
  'What are they trying to hide?...
 

Current Conditions:
Mostly Sunny

<
Current Conditions:
Mostly Sunny

Forecast:
Wed - Mostly Sunny. High: 87Low: 70
Thu - Mostly Sunny. High: 85Low: 68
Fri - Partly Cloudy. High: 83Low: 67
Sat - Partly Cloudy. High: 83Low: 63
Sun - Mostly Sunny. High: 87Low: 66

Full Forecast at Yahoo! Weather



Washington, DC

  2010 The Capital Post. All rights reserved.