Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Ship Finance International
So what: Moody's cut its rating on Ship Finance's paper from Ba3 to B1, even deeper into junk territory. The rating is also still on review, and an additional downgrade is even potentially on the table.
Now what: Ship Finance has exposure to Frontline
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