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Article: Moodys To Discontinue Issuer Rating.(Moodys Investors Service )(Brief Article)
- Article from:
- Bank Loan Report
- Article date:
- May 23, 2005
- Author:
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On May 13, Moodys Investors Service announced that it no longer plans to assign issuer ratings, which have been assigned to speculative grade issuers since 1999, and that it plans to withdraw existing issuer ratings starting in mid-to-late June.
The announcement follows a March request for comment, in which the rating agency asked the market for feedback on discontinuing the issuer rating which is an opinion of an issuers ability to honor senior unsecured financial obligations. Moodys noted that there had been confusion in differentiating the issuer rating and the senior implied rating (BLR, 3/28/05). Moodys said it is not making any changes to the senior ...