Ah, how does it feel, Moody’s, the Wall Street Journal taunts.
And really who can blame them? Moody’s usually dishes out the bad news with its pronouncements on Greek sovereign debt, French bank debt or even U.S. Treasury debt. Today, it’s getting a little of its own medicine.
Dow Jones Newswires reports that Lazard Capital has cut Moody’s stock to neutral from buy, citing a slow-down in debt issuance, the mother’s milk of a debt rater. The euro-zone debt woes and the U.S. federal debt ceiling debate are some of the reasons for fewer debt offerings.
Moody’s shares are down 5.2% at $38.11, the second-worst performer among S&P 500 stocks after JDS Uniphase....
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Find out more at: http://blogs.wsj.com/marketbeat/2011/06/16/moodys-corp-skids-sharply-after-it-gets-downgraded/?mod=WSJ_markets_liveupdate
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