Corporates downgraded.Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. downgraded the short-term debt Short-term debt Debt obligations, recorded as current liabilities, requiring payment within the year. ratings of four corporate credit unions to Prime-3 from Prime-1. The affected corporates were Members United Corporate FCU FCU Federal Credit Union FCU Florida Credit Union FCU Fan Coil Unit FCU Fuel Control Unit FCU Flight Control Unit FCU Flexor Carpi Ulnaris FCU Familial Cold Urticaria FCU Fire Control Unit FCU Fused Connection Unit FCU Flow Control Unit , Central Corporate CU, Corporate Central CU and SunCorp Corporate CU. Following the April 14 rating actions, the outlooks for all four corporates are developing. The actions reflect the corporates' weakened credit assessments, particularly because of the eventual impairment Impairment 1. A reduction in a company's stated capital. 2. The total capital that is less than the par value of the company's capital stock. Notes: 1. This is usually reduced because of poorly estimated losses or gains. 2. of the corporates' capital investments in U.S. Central FCU and losses in their securities portfolios. However, Moody's said it viewed the probability of support from the federal government and credit unions as high, which provided a "significant lift" to the short-term ratings. The Prime-3 ratings and developing outlooks also reflect the uncertainty of potential regulatory or structural changes to the corporate network. |
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