Moody's, which has long been criticized for sleeping through the credit bubble and, by many accounts, causing it in the first place, just came out with an attempt at absolution. In a quarterly publication called the "Bottom Rung", the rating agency list 283 companies which it believes are the most likely to default. Criteria for inclusion in this list include primarily liquidity and credit risk. Among the sectors most represented are media, automotive, retail, manufacturing, gaming and consumer products. Moody's dedication to its new job of a "rating" agency instead of "provide AAA rating for cash" agency manifests in the 126 new companies added to the "death list" compared to last year's 157.
Anyway, we post the full list below in all its 283 dead men walking glory and advise anyone who may have an investment in any of the listed lepers, to take their loss and run for the hills.
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Monday, March 9, 2009
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12 comments:
Like somebody else mentioned earlier, dude, you are a machine!
Love your blog. Keep putting out the good stuff!
Excellent work. I am sending trading associates here. Keep it up, the public and our industry needs more exposure to this pertinent information.
You violate my peace of mind with this post. I read down the names of the brands at-risk, and the names zing in my head, like the names of family members, beloved pets and old girl friends. This can't be right, Zero Hedge...go check again, please, go check again..
I wonder how many of these firms will survive Moody's.
Tyler, first of all, excellent blog - best credit blog around by far.
What do you make of the recent GE FDIC insured bond issuance? Just business as normal?
Tyler, this list has every single one of my portfolio holdings and I just grew a chest hair!
Great work ! Keep it coming.
I'm drooling over your posts:) Great blog Tyler!
I can't take this list seriously.. C and BAC aren't on it.
Where exactly is the list?
Thanks
JEWS
I looked all over the page and there's no list to be found. It doesn't appear in IE7, nor Mozilla. What gives? Bad blogger!
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