Moody's withdrawing speculative-grade issuer rating

Moody's Investors Service said it is in the process of withdrawing the speculative-grade issuer rating, also known as senior unsecured issuer rating for corporate issuers.

These actions are under the guise of the rating withdrawal project announced by Moody's in a May press release and special comment.

The withdrawal of the rating will be completed over the next few days for over 1,000 speculative-grade issuers, the agency said, adding that investment-grade issuer ratings are not affected, as these do not carry corporate family ratings.

Moody's said it is withdrawing the speculative-grade issuer ratings for numerous companies, including Aquila, Inc., Calpine Corp., Grant Prideco, Inc. and Visteon Corp.

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