Citadel flagship funds downgraded by Moody's

Fri Mar 13, 2009

Moody's Investors Service downgraded Citadel Investment Group's flagship Kensington and Wellington funds, having concluded that they hadn't properly adjusted their risk management controls to deal with the rapid decline in the markets last fall – a decline that resulted in steep losses for the funds.

The operational quality ratings were lowered from OQ1, meaning "excellent," to OQ2, meaning "very good."...

ISSN: 2151-1845 / CDC10004H

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