The Bond Buyer's article "Lockyer's Rating Proposal Gets Mixed Response From Market" discusses a proposal by California Treasurer Bill Lockyer to "petition the three major credit agencies to harmonize their municipal rating scales with corporate ratings, or ask the Securities and Exchange Commission to amend its Rule 2a-7 on money market funds to take into account the difference scales." The article says, "Rule 2a-7, which governs the types of securities that money markets funds can hold, currently stipulates among other things that these funds can't purchase securities rated below double-A."

Email This Article




Use a comma or a semicolon to separate

captcha image