Ratings agencies received a lot of criticism for their handling of debt
ratings during the waning days of the housing bubble and the resulting
crash-crunch. If Moody's (MCO)
recent upgrade of the pharmaceutical sector is any indication, it looks
like they may not have improved their timeliness all that much. In
fact, investors approaching the Big Pharma sector today aren't likely to
find many bargains and may in fact be buying into a somewhat overheated
market.
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Is Moody's Late To The Drug Party?
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