Moody's Bottom Rung: The Grim Reaper of Corporate Bankruptcies

Credit-rating firm Moody's released a list today called The Bottom Rung, which includes 283 companies it believes are at risk of corporate bankruptcy. The companies span sectors of the economy (ZDNet breaks it down with a pie chart and lists a few dozen companies that made the list, including AMD, Blockbuster, Orbitz, and Sirius XM.) Not surprisingly, industries that make up the biggest pieces of the pie include autos, casinos, retailers, and media companies.

What's odd about this list, says MarketPlace's Ashley Milne Tyte, is that ratings agencies have traditionally highlighted only companies with a low likelihood of default.

It's worth pointing out that Moody's has come under fire for dragging its feet on cutting the ratings of bonds backed by subprime mortgages.

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