Moody's (MCO) Continues Slide on Debt Rating Review

Shares of Moody's Corp. (NYSE: MCO) continue yesterday's slide which was related to reports a computer glitch led to incorrect AAA ratings on a number of debt products the firm rates.

Moody's confirmed it is conduction an external review of European constant-proportion debt obligation (CPDO) ratings process. Moody's rated 44 European CPDO tranches, representing approximately $4 billion in rated securities.

Shares of Moody's are down another 8% today after losing 16% of their value yesterday.

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