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Salomon Smith Barney cited the deteriorating environment for semiconductors as the catalyst for its ratings change; Lehman Brothers called for a slowdown in revenue growth rates for the next two quarters.
Holdings of one company's bonds can be switched for those of another, as credit ratings change.
"It was not our intent to imply that the refund was related to a request for a ratings change".
When an underdog pulls an upset, the ratings change by far more than they would if they relied on wins and losses alone.
The sales executive advised Mr. Parmigiani in the message dated March 2005 that he could not attend a meeting because of a "big ratings change looming".
"We have done a lot to narrow the impact of any potential ratings change," Ruth Porat, Morgan Stanley's chief financial officer, said during the conference call.
Similar(38)
"We shouldn't make too much of these ratings changes by credit rating agencies," he said.
Verbal ratings, changes in blood pressure and heart rate confirmed the validity of the stress induction.
None of the questions that were previously rated as properly specified had their binary ratings changed.
In previous cycles, a rise in the ratio of downgrades to total ratings changes has been a good predictor of rising default rates.
And Japan has managed to keep borrowing at a cheap rate, despite losing the highest level of approbation.The agencies are well aware that ratings changes are highly sensitive.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com