Moody

April 5th, 2008

Moody’s Financial Services downgraded Countrywide Financial Corp.’s bank to a "D" rating late Thursday, according to a Marketwatch report.

According to the report, Moody’s cited "substantial liquidity issues" as the main reason for the downgrade.

The unsecured ratings for Calabasas’ Countrywide Financial Corp instant payday advance. and Countrywide Homes Loans remained unchanged.

Countrywide’s stock (NYSE: CFC) closed down 46 cents, or 7.23 percent, at $5.90.

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Filed under: economics by Wolf

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