Fearful of how a change in ratings will help them market their funds among investors, money fund managers are chafing at the idea of Moody’s’ proposed new ratings. Investors are used to looking for AAA-rated money market funds, and it will take some time for them to get to a scale ranging from MF1 to MF4, money managers tell The Wall Street Journal.

“These proposals are going down [among fund companies] like a lead zeppelin,” said Peter Crane, founder of Crane Data. “Tweaking the ratings criteria is one thing, but moving away from AAA ratings is sacrilege. It will take years or decades to condition people to this new system.”

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.