According to the bond credit rating
scale, a Caa3 rating means that "the obligor is currently vulnerable, and is dependent upon favourable business, financial, and economic conditions to meet its financial commitments," while a B3 rating means that "the obligor is less vulnerable in the near term than other lower-rated obligors.
Moody's, the bond credit rating
business of New York City-based Moody's Corporation, declared that a variety of outside pressures continue to restrict growth of hospitals, including federal cuts to medical spending and limited reimbursement increases from insurers.
The euro was briefly sold against the dollar and the yen amid rumors that the French bond credit rating
would be downgraded, but the single currency was bought back later in the day after the rumor was denied, they said.
Moody's Investors Service, often referred to as Moody's, is the bond credit rating
business of Moody's Corporation, representing the company's traditional line of business and its historical name.
On February 3, California's bond credit rating
was downgraded below that of every other state by Standard & Poor's, one of the Big-Three Wall Street rating agencies.
Logan Board meeting, Brad McCormick, chief financial officer, told trustees that Moody's, the bond credit rating
business, had dropped the negative outlook on the college's credit rating and affirmed its A3 rating while noting its debt, $27.5 million in general obligation unlimited tax debt.