Moody's Investor's Service posted two press releases yesterday and two more today -- "Moody's withdraws Aaa/MR1+ ratings of six Nomura Money Market Funds," "Moody's withdraws the Aaa/MR1 ratings of Pictet Global Selection Fund - Euro Cash," "Moody's withdraws Aaa/MR1+ rating on Nikko Money Market Fund -- US Dollar Portfolio," and "Moody's withdraws Aaa/MR1+ ratings of two Nomura Money Market Funds." The first says, "Moody's Investors Service has withdrawn for business reasons the Aaa/MR1+ ratings of six Nomura money market funds: Nomura Multi Currency MMF -- US Money Market Fund, Australian Dollar Money Market Fund, G.B. Pound Money Market Fund, Canadian Dollar Money Market Fund, Euro Money Market Fund, and New Zealand Dollar Money Market Fund.... Moody's Investors Service has withdrawn the credit rating for its own business reasons.... The last rating action on Nomura Multi Currency MMF - US Money Market Fund was on 3 December 2007 when the fund was rated Aaa/MR1+." The second says, "Moody's Investors Service has withdrawn for business reasons the Aaa/MR1 ratings of Pictet Global Selection Fund-Euro Cash.... The last rating action on Pictet Global Selection Fund-Euro Cash was on 26 April 2002 when the fund was assigned a Aaa/MR1 rating." The Nomura fund is one of the only funds offering Canadian, Australian and New Zealand currencies to "offshore" investors. Note that normally fund ratings are withdrawn for cost considerations or because a fund liquidation is imminent. See also, SmartMoney's "Where Did All the Money Funds Go?".

Email This Article




Use a comma or a semicolon to separate

captcha image

Daily Link Archive

2024 2023 2022
March December December
February November November
January October October
September September
August August
July July
June June
May May
April April
March March
February February
January January
2021 2020 2019
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2018 2017 2016
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2015 2014 2013
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2012 2011 2010
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2009 2008 2007
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2006
December
November
October
September