Gross Says Investors Shouldn’t Trust Moody’s on U.S. AAA Rating

Investors shouldn’t trust the opinion of Moody’s Investors Service on the U.S.’s Aaa rating and should rely instead on the company’s competitors, according to Pacific Investment Management Co. founder Bill Gross.

Moody’s and the U.S. Treasury are one “happy family,” Gross, manager of the world’s biggest bond fund, said today in a post on Twitter. “Trust S&P, Fitch & Egan Jones” for credit ratings, he wrote. Mark Porterfield, a spokesman for Newport Beach, California-based Pimco, said Gross was referring to Moody’s stance on the U.S. debt limit and potential for a government shutdown.