Moody's keeps MF Global on review

Moody's Investors Service said it is continuing the review of MF Global Ltd.'s Baa1 long-term issuer rating, which was placed on review for downgrade on Feb. 28.

According to the agency, the review focuses on MF Global's plans to achieve a stable long-term capital structure and the company's risk management practices in light of trading losses suffered as a result of unauthorized trading by one of its employees.

Moody's noted that extending the maturity profile of its debt remains a critical near-term prerequisite to maintaining the Baa1 rating.

The firm's rating is supported by the company's low-risk business model, its diversification and market-leading position in the growing futures trading industry, the agency said.

MF Global was formerly Man Financial Inc.

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