S&P To Moody's: No Offense But You Suck

Sorry, we're just not that into you.

Ratings agencies are the unsung heroes of the financial world. Toiling deep in the weeds of corporate finances, they do their jobs without expectation of fabulous bonuses or everlasting glory. No one gets famous correctly calling a credit risk, yet endless infamy awaits those who fall asleep at the switch.


But once in awhile the lonely credit rater gets a rare chance to make a splash. Who can imagine the rapturous feeling that must have enveloped the S&P Global Ratings agent who had the honor of downgrading the credit of the United States of America? There are precious few of these days in a rating agency functionary's life.

On Monday, some lucky soul at S&P had such a day:

S&P Global Ratings on Monday lowered its outlook on rival rating agency Moody’s to “negative” from “stable” and affirmed its BBB+ rating after Moody’s agreed to acquire electronic business and company data publisher Bureau van Dijk Electronic Publishing for about $3.27bn.

Public service announcement to those who live and/or work in lower Manhattan: Beware roving bands of mid-career finance professionals menacingly wielding calculators as they circle one another in lockstep and snap along to a spicy jazz number.

S&P lowers Moody’s outlook to negative after BvD deal [FT]


Moody’s: You Can Count On Future Bailouts

Moody’s, is taking the recent financial crisis it may or may not have borne any responsibility for seriously...in one respect.

Moody's Attempts To Ruin Dick Handler's Good Time

Until recently, being chief executive officer of Jefferies was an exercise in getting shit on. As the man in charge for the last 13 years, Richard Handler has had to put up with a lot of hurtful remarks that, while nothing to the person tossing them off, undoubtedly stung quite badly. "Third-tier bank." Place "I wouldn't let my maid's kid work." "Poor man's Morgan Keegan." So you can imagine that after a string of victories over the last several months that included getting involved in the slaughterhouse business and paying all-cash bonuses unlike some people, Handler and Co. would be feeling pretty good about themselves and that after announcing to the world they were getting paid more this year than their counterparts at big kid banks, they'd be feeling REALLY good about themselves. That payday, however, did not go over well when input into Moody's proprietary just-make-it-up credit-rating model, and now Handler's plan to gather everyone up to watch as the board shoots his compensation out of a tee-shirt gun in hundred dollar bills is completely ruined.