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Tags: US | S&P | Moodys

S&P Gives Moody's an Investment Grade Rating

Wednesday, 04 August 2010 01:05 PM

The Standard & Poor's ratings agency assigned Moody's Corp. an investment-grade "BBB+" credit rating Tuesday.

In a statement, S&P analyst Andy Liu said the rating reflects potential risks Moody's faces because of the recently passed financial reform legislation, which could lower the bar for investors to file securities fraud cases against ratings agencies.

The agencies have been the target of some blame for the financial crisis because they gave top ratings to mortgage securities that later lost value.

S&P added, however, that Moody's has a "well-known brand" and a "relatively conservative financial policy with regard to share repurchases, dividends and acquisitions."

Moody's shares were up 23 cents to $23.84 in afternoon trading.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


FinanceNews
The Standard Poor's ratings agency assigned Moody's Corp. an investment-grade BBB+ credit rating Tuesday.In a statement, S P analyst Andy Liu said the rating reflects potential risks Moody's faces because of the recently passed financial reform legislation, which could...
US,S&P,Moodys
112
2010-05-04
Wednesday, 04 August 2010 01:05 PM
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