Rating agencies assess CP markets

In the Moody's call, Pierre Cailleteau, chief economist at Moody's, noted that the macro-economic outlook for growth in the US is likely to be negative while the rest of the world economy is positive.

"However, risk aversion has spread considerably and poses challenges to central banks to ensure the availability of liquidity within banking systems, and, more generally, its distribution or 'fluidity' throughout the financial system," said Cailleteau.

Of particular concern to Cailleteau was the

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