Moody’s Investors Service has slashed its rating on the taxable bonds used to finance former Red Sox ace Kurt Schilling’s failed gaming company, 38 Studios, in a move that could have broader implications for the credit standing of the state of Rhode Island. The ratings firm said it cut its rating on the bonds, which were guaranteed by the state ...

(Reuters) - Detroit's default and debt-restructuring plan are precedent-setting in the U.S. municipal market, Moody's Investors Service said on Monday, because the city is looking to bondholders, as well as labor unions and pensioners, to share the pain.

Federal Reserve Chairman Ben Bernanke is failing, argues Christopher Mahoney, a former vice chairman of Moody's.

(Reuters) - Detroit's default and debt-restructuring plan are precedent-setting in the U.S. municipal market, Moody's Investors Service said on Monday, because the city is looking to bondholders, as well as labor unions and pensioners, to share the pain. The city on Friday defaulted on a $39.7 million payment on certificates of participation and presented a plan to restructure its finances. ...