Credit rating agency Moody's Investors Service placed Manulife's Aa1 ratings on review for a possible downgrade following the release of the company's quarterly results.
“Today's decision to place Manulife's ratings on review for possible downgrade reflects Moody's view that the Canadian life insurer's financial flexibility and economic capitalization has been weakened by the substantial decline in equity markets in the latter half of 2008,” stated senior credit officer Peter Routledge.
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Messenger quietly leaves before being shot......