VOL. XLIV

No. 22

28-May-2001

RATINGS

Moodys Places GIC Ratings On Review For Possible Downgrade

US ratings agency Moodys Investors Service announced on 24 May that it had placed the long-term foreign currency deposit rating and financial strength rating (FSR) of Gulf Investment Corporation (GIC) on review for a possible downgrade. GIC is currently rated D+ for financial strength and Baa2 for long-term foreign currency deposits. In a statement, Moodys said that with the sale of GICs major...