Investment Losses Play Role In Dartmouth, TIAA Ratings

Investment losses played a large part Tuesday in Dartmouth College being stripped of its long-term triple-A bond rating and in a warning that TIAA and TIAA Global Markets, Inc. could lose their triple-A ratings.

Standard & Poor's downgraded Hanover, N.H.-based Dartmouth to "AA"-plus, noting "significant losses" of 21% in the Ivy League school's endowment as of December, although it said that's "in line with market trends."

Moody's Investors Service, meanwhile, placed the gilt-edged issuer ratings of Teachers Insurance and Annuity Association of America and the TIAA-guaranteed senior unsecured debt of TIAA Global Markets, Inc. under review for possible downgrades. It affirmed the Aaa insurance financial strength ratings with a stable outlook of TIAA and its TIAA-Cref Life Insurance Co. unit...

WSJ: Investment Losses Play Role In Dartmouth, TIAA Ratings