Moody’s downgrades Legg Mason to ‘A3′ from ‘A2′
Moody’s downgrades Legg Mason to ‘A3′ from ‘A2′ October 7th, 2008 SAN FRANCISCO (MarketWatch) — Moody’s Investors Service on Tuesday lowered Legg Mason Inc.’s senior debt rating to A3 from A2 and indicated that there could be additional downgrades. The move was due to continued pressure on Legg Mason’s business profile and profitability resulting from its financial support of constant net asset value money market funds. “Legg Mason has ample cash for the current cash collateral needs of mon
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