March 14, 2012 / 11:23 PM / 5 years ago

BRIEF-Moody's downgrades Penson Worldwide to Ca on exchange offer

March 14 (Reuters) - Moody's Investors Service downgraded the Corporate Family Rating and Senior Secured Ratings of Penson Worldwide, Inc. to Ca from Caa1 following its announcement of an exchange offer which Moody's views as a distressed exchange.

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