Moody’s downgrades Coinbase due to bear market: Warns it may not be the last
Cointelegraph
Published Jun 23, 2022 10:07PM ET
Updated Jun 25, 2022 12:00AM ET
Credit ratings agency Moody’s has downgraded the Corporate Family Rating (CFR) and guaranteed senior unsecured notes of crypto exchange Coinbase (NASDAQ:COIN), stating that both ratings have been placed under review for further downgrade.
The CFR, a rating assigned to reflect Moody’s opinion of a company’s ability to honor its financial obligations, was downgraded from Ba2 to Ba3, which is considered below non-investment grade.
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Written By: Cointelegraph
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