Moody's downgrades Dynegy to Caa1
Moody's downgraded Dynegy to Caa1 from B3 on Friday, citing concern about the possibility of the company being owned by a private equity firm, with an affiliate of the Blackstone Group likely to acquire Dynegy in the near future.
Moody's downgraded nearly 300 US municipal issuers in the second quarter, the most for any quarter in more than a decade and the latest sign of the potential pressure building in the market where states and local governments raise money.