Lehman's Fitch Move Draws Cheers

Ferguson, Joy
January 2005
Investment Dealers' Digest;1/31/2005, Vol. 71 Issue 4, p13
Trade Publication
The article reports that the news of Lehman Brothers Inc. about adding the assessments of Fitch Ratings Inc. to its benchmark corporate debt indices alongside those of Standard & Poor's Corp. and Moody's Investors Service has drawn cheers from investors. The inclusion of Fitch's ratings means that it will take downgrades by two rating agencies, not just one, to send the automakers into the speculative-grade universe, which could force many high-grade investors to sell. Fitch's inclusion in Lehman's index more adequately reflects the market's diversity of opinion.


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