Word: moodyã
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...credit rating report issued by Moody??s Investors Service in April said that Harvard was considering halving its capital spending and new debt issuance due to investment losses. The report said that Harvard had previously planned on issuing $3 billion in new debt over the next few years to fund campus expansions, in addition to spending roughly $1 billion a year on capital projects...
...laid bare the risks inherent in the University’s aggressive capital financing.Harvard is now aiming to halve its spending in capital projects—currently estimated at $1 billion a year over the next three to four years, with an additional $3 billion in debt, according to Moody??s Investors Services. But even before markets began to plunge and Harvard announced a 22 percent decline in the endowment for the four months ending Oct. 31, Faust was reportedly uneasy about the rigor of Harvard’s financial planning for its Allston expansion, according...
...Moody??s, like rival firms Standard & Poor’s (S&P) and Fitch, Inc., follows a “corporation-paid” model, in which the corporation issuing a security pays for Moody??s to rate that security. This creates a conflict of interest. Since rating agencies want to keep a steady flow of business, they have good reason to overrate securities and make their customers—the issuers—happy. Indeed, rating agencies in the past have given collaborative feedback to issuers to such an extent, some argue, that their ratings...
...John Moody anticipated this problem when he published the first Moody??s Analyses of Railroad Investments in 1909. Moody prefaced the book with a note about its scope, cautioning that it was “in no sense a ‘manual’” and instead a tool to enable investors to “analyze the conditions back of all security values.” Like his future competitors, Moody specifically intended his credit ratings to enable analysis rather than be ends in themselves. Nonetheless, by 1970, when the firm switched...
...problem here involves both agencies like Moody??s, with its horde of analysts, and the investors they inform—and so does the solution. It evidences a broader issue that technology and innovation bring to all facets of life: carelessness. If you can find the answer by searching Google or glancing over a Wikipedia article, why read a book? If you can rely on a credible rating for a complex financial security, why do further research? In a narrow sense, the lack of context attendant in these bursts of data leads to small errors...