The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Moody's Cuts State Street's Debt Rating Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, January 22, 2009

Moody's Cuts State Street's Debt Rating

by: Armie Margaret Lee

Moody's Investors Service on Wednesday cut its rating on State Street Corp.'s unsecured debt from Aa3 to A1, pointing to unrealized losses in the Boston firm's portfolio and in investment pools it manages for clients, The Wall Street Journal reports. Moody's move comes a day after Standard & Poors downgraded State Street, parent of State Street Global Advisors, for similar reasons.

On Tuesday, State Street officials said unrealized losses as of Dec. 30 were $9.1 billion, representing an increase of close to $5 billion in the fourth quarter.

State Street spokeswoman Hannah Grove told The WSJ that the reaction to the company's unrealized losses "defies logic," saying State Street believes it is well-capitalized and the value of its assets will improve as the liquidity crisis in the market eases.  

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use