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States May Drop Moody's

Lee Conrad, writing for Financial Planning Magazine (here), reports that state insurance commissioners may withdraw approval from Moody's Investment Services (NYSE:MCO) for ratings services.  Lee attributes Reuters as a source.  This action was triggered, according to the article, when Moody's declined to attend a meeting of state insurance commissioners this week to answer questions about their past ratings practices.  Other ratings agencies are reportedly attending the meeting of the National Association of Insurance Commissioners (NAIC).