Posted AT 5:39 PM EST on 28/02/06
Moody's to rate Canada
Moody's Investors Service Inc. said Tuesday that it will be the first foreign-controlled credit rating agency to provide ratings for Canadian asset-backed commercial paper, a market previously serviced only by Toronto-based Dominion Bond Rating Service Ltd.
Commercial paper consists of debt securities with maturities of one year or less, but they can be backed by assets, such as mortgages, with maturities scheduled for repayment over several years.
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