Director of Credit Analysis
Stoever Glass & Co., Inc.
P: (862) 432-8818
Bond Rating “outlooks” and “credit-watches” are not rating changes. They were first instituted by S&P in 1981, and subsequently adopted by Moody’s and Fitch. They should represent leading indicators for future bond ratings. But because the raters are slow in changing ratings, the bond market treats them as rating upgrades or downgrades.
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