SP& Downgrades from AAA -> BBB-, then back to AAA in days

To further engender your trust in rating agencies, here's a good story:

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601087&sid=az_NZojlf5Ng ``S&P lowered the ratings on a class of a commercial mortgage-backed bond offering from AAA to BBB-, the lowest investment-grade ranking, on July 14. The New York-based rating company reversed the cut today, S&P said in a statement. In a related report, S&P said it adjusted assumptions on the timing of projected losses on the mortgages. ''

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Igor Chudov
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