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Moody's Credit Officer Warns of Potential Y2K Problems.
Knight Ridder/Tribune Business News, November, 1999 by Evening Standard, London
Knight Ridder/Tribune Business News
Nov. 4 -- Doom-mongers are at it again. With only 58 days to go they are warning of the havoc the dawn of the new millennium could wreak. The soothsayer this time is Kenneth Pinkes, chief credit officer at ratings agency Moody's, who has cautioned that the millennium bug still threatens to lead to credit downgrades.
"The Y2K millennium bug is a legitimate credit concern which, although not catastrophic in nature, can hurt a debt issuer's creditworthiness if not adequately ad-dressed," Pinkes told a think-tank in Washington.
"It is our assessment thus far that Y2K will not lead to a significant number of downgrades. Nevertheless, rating changes at some stage later on this year or
early in 2000 cannot...
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