One of the best-known bond rating agencies, owned by Dun & Bradstreet. Moody's Investment Grade assigns letter grades to bonds based on their predicted long-term yield (MIG i, MIG 2, etc.). Moody's also rates commercial paper, municipal short-term issues, and preferred and common stocks. Another publication is a six-volume annual, with weekly or semiweekly supplements, giving great detail on issuers and securities. Publications include Moody's
Record and Moody's Bond Survey. Moody's investment ratings are considered the norm for investment decisions by fiduciaries.