TITLE

Lehman's Fitch Move Draws Cheers

AUTHOR(S)
Ferguson, Joy
PUB. DATE
January 2005
SOURCE
Investment Dealers' Digest;1/31/2005, Vol. 71 Issue 4, p13
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
15894581

 

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