Article: Now You See It Now You Don't; Ratings for corporations can be withdrawn at the company's request. Are some issuers trying to hide the bad news?(Cover Story)

Byline: Aleksandrs Rozens

Standard & Poor's withdrew Houston-based Ion Geophysical's credit rating in March and did the same for Oklahoma City climate controls maker ThermaClime in February. Both companies asked the rating agency to do so.

Last month, Fitch Ratings downgraded Novelis Inc., offered a bleak outlook on the manufacturer of aluminum sheet and foil products and announced it was no longer rating the company. In March, Moody's Investors Service downgraded FGIC Corp. and gave the bond insurer a negative outlook. Moody's didn't specify why it stopped rating FGIC, saying only that it was for "business reasons."

The withdrawal of company ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!