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The Last AAAngels Standing
Can it be so? While everyone is focused on the low end of the credit market (i.e. subprime) these days, Trader Daily took a look at the high end this morning and found scant pickings indeed.
With a recent downgrade of Nestlé by both Moody's and Fitch Ratings, that leaves just three—yes, read that again: three—non-financial corporate issuers with AAA ratings at all three agencies (the above two and Standard & Poor's).
The triumvirate: Exxon Mobil, Johnson & Johnson, and Toyota Motor Corp.
(Berkshire Hathaway is tops at all three as well, but is a financial services company run by a god, so it doesn't count.)
High oil prices, hybrids, and bandages—the only certainties in these very uncertain times.
by Duff McDonald
Laura Rich is a co-founder of Recessionwire, which provides news, advice, perspective and humor about the recession and the recovery.
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