Moody's lowers Nuveen view to negative

Moody's Investors Service said it changed Nuveen Investments, Inc.'s outlook to negative from stable and affirmed its ratings, including the corporate family rating at B1, its $250 million six-year senior secured revolver and $2.32 billion seven-year senior secured term loan at Ba3 and its $785 million eight-year senior unsecured notes, $250 million senior unsecured notes due 2010 and $300 million senior unsecured notes due 2015 at B3.

The agency said the outlook change was primarily driven by the challenges that the company currently faces with regards to the liquidity crisis in the auction rate securities market for closed-end funds and the potential for a protracted equity market downturn in 2008.

Moody's noted that the rating action has no impact on any auction rate preferred stock or other debt issued by Nuveen's closed-end funds that are rated by the agency.

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