Detailed text transcripts for TV channel - CNN - 20100615:18:54:00
But i'm talking mainly about as and bs. today's word is a phrase, a fitch downgrade. fitch is one of those companies that evaluates a credit of other companies. it assigns a letter grade to those company's bonds. it's great information for buyers of bonds. bonds are ious. you want to be compensated for the risk you're taking in lending someone else your cash. the reason fitch downgrade is in the news is it happened again to bp for the see bp. for the second time this month, from a aa to bbb. fitch believes the ever-growing estimates of oil gushing from the ruins of the deepwater horizon and th...