Jefferies (JEF) is downgraded to Baa3 - the lowest investment grade rating - by Moody's. "Like...

|By:, SA News Editor

Jefferies (JEF) is downgraded to Baa3 - the lowest investment grade rating - by Moody's. "Like all investment banks active in secondary capital markets, Jefferies is confidence-sensitive and this is a central risk facing the firm." Shares are trading, but unchanged AH.