October 6, 2008
Moody's Takes No Rating Action So Far in Review of Wachovia Freeze
Moody’s Investors Service has completed the first phase of its review of Wachovia’s decision to freeze the short-term accounts of nearly 1,000 colleges and will not downgrade any of the institutions involved, the credit-rating agency announced Friday.
The initial assessment focused on 20 institutions that use money from a Commonfund short-term fund managed by Wachovia as collateral for debt. They are Berea, Colorado, Dartmouth, Smith, and Wellesley Colleges; Brown,
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