Reuters: Market News: BRIEF-Moody's downgrades Penson Worldwide to Ca on exchange offer

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BRIEF-Moody's downgrades Penson Worldwide to Ca on exchange offer Mar 14th 2012, 23:21 March 14 | Wed Mar 14, 2012 7:21pm EDT 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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