The Roaring Revenge of 'Investment Grade'By
Never again, swore investors, academics, and politicians. Never again would we be so in thrall to an “investment-grade” seal of approval. In the run-up to the economic meltdown, credit-rating companies such as Standard & Poor’s and Moody’s minted it by slapping that designation on all sorts of companies and securities whose creditworthiness turned out not to be technically kosher.
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