When Moody’s altered a rating policy, it made some companies look less risky — and led them to take on more debt Based on the research of Cesare Fracassi On the surface, credit rating agencies simply score a company’s financial health.

When Moody’s altered a rating policy, it made some companies look less risky — and led them to take on more debt Based on the research of Cesare Fracassi On the surface, credit rating agencies simply score a company’s financial health.