The rating agencies downgrade . . . the rating agencies

[2Pack]

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NEW YORK (Standard & Poor’s) June 29, 2010–Standard & Poor’s Ratings Services today placed its ‘A-1′ short-term rating for Moody’s Corp. on CreditWatch with negative implications.

“The CreditWatch listing reflects our view that an increased level of business risk is likely following the announcement that the Financial Reform Conference Committee has reconciled bills from the U.S. Senate and House, and that the agreed upon legislation could result in a change in the applicable pleading standards for certain litigation brought against rating agencies,” said Standard & Poor’s credit analyst Emile Courtney.