Moody's strips strong performing market value CLO of rating

Friday, March 27, 2015

Business and vodka don't mix: Moody's has withdrawn ratings for a market value CLO (which shares its name with a Finnish brand of vodka) for what it describes as business reasons.

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TAGS: Oak Hill

Comment by: Anonymous. Posted 9 years ago [2015-03-28 13:48:44]

Something's wrong here. Moody's is abdicating its clear responsibility. It must explain its reason for withdrawing a rating beyond the meaningless "business reasons." Whatever it is - request from arranger to withdraw rating, failure to pay the rating fee, discovery by Moody's that its rating methodology is flawed, departure of key Moody's personnel for surveillance of the deal - Moody's trashes its credibility by remaining silent.

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