BTIG analyst Mark Palmer
also chimed in with a note on Tuesday. "While the company's response to Moody's was important insofar as it emphasizes the reality of its strengths to investors and, perhaps, to the rating agencies (Morningstar?) that may be brought in to replace Moody's, the plan underlined the fact that
Moody's defended its actions via an email statement from a spokesman.
"Our action was based on a downward reassessment of Assured's business franchise, expected future profitability, and financial flexibility," the statement read, citing the press release on Thursday announcing the downgrade. The statement added that "consistent with
-- Written by Dan Freed in New York.Follow @dan_freed