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downrated to the worst credit rating on the planet isn't bad enough already?

I didn't realise until reading it yesterday, that for some agencies, there is a rating below C: D.

Bond credit rating - Wikipedia, the free encyclopedia

Moody'sStandards & PoorFitchCredit worthiness
- C C The obligor is CURRENTLY HIGHLY-VULNERABLE to nonpayment. May be used where a bankruptcy petition has been filed.
C D D An obligor has failed to pay one or more of its financial obligations (rated or unrated) when it became due.

*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Wed Jun 15th, 2011 at 06:10:10 PM EST
[ Parent ]
Well, 'D' is "in default". It's not actually a rating of future creditworthiness.

Economics is politics by other means
by Carrie (migeru at eurotrib dot com) on Thu Jun 16th, 2011 at 02:01:00 AM EST
[ Parent ]


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