Word: moodyã
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Dates: during 2002-2002
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...addition to the now-infamous call that Rubin placed on Enron’s behalf to the undersecretary for domestic finance—his old colleague in the Treasury Department, Peter Fisher—Rubin also reportedly called an official at the key credit ratings agency Moody??€™s. Rubin allegedly asked the agency to keep Enron’s investment grade credit rating in place until JP Morgan and Citigroup could complete the sale of Enron to Dynegy, though Citigroup denies that Rubin made a call...
Dynegy ended up passing on the Enron sale, but only because of the diligence of Dynegy’s own investment bankers in discovering the sad state of Enron’s finances. Enron declared bankruptcy soon after. Had Rubin’s alleged call to Moody??€™s been successful and led to the sale of Enron to Dynegy, Citigroup (together with J.P. Morgan, the other investment bank involved) would have made $90 million and Dynegy’s shareholders would have been stuck with Enron’s debts. If these allegations are proved true, Rubin will...