Financial Times FT.com

Moody’s offers to change debt rating system

By Michael Mackenzie in New York and Stacy-Marie Ishmael in Las Vegas

Published: February 5 2008 01:14 | Last updated: February 5 2008 01:14

Moody’s moved on on Monday to respond to its critics by proposing a new rating system for complex debt securities that would rely on numbers rather than letters.

However, the new system would involve the same number of grades – 21 – that spurred some industry executives to ask whether it would confuse investors.

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