Moody's launches hedge fund ratings

We've been talking for some time about the market opportunity that hedge funds promise for ratings services. Moody's has certainly been one to sense a service opportunity and news of its ambitions in this area comes as no surprise. The honor of Moody's first public rating went to Sorin Capital Management. But everyone expects more ratings as soon as Moody's can line them up. Hedge fund ratings may be somewhat less useful than credit ratings given the relative dearth of information. Still, there is a market for it and other raters and fund monitoring companies are likely formulating their own plans.

For more on Moody's:
- Here's a CNNMoney.com article