Editorial Review of
Moody's

Moody's (like S&P and Fitch) produces ratings that address the risk of sovereign bond default. Thus there are different ratings for the various categories of sovereign debt -- short term, long-term, local currency, foreign currency. As always, the ratings themselves are free, but if you want to see all the research and analysis you've got to pay. Moody's recently made headlines for a bold downgrade of Japan's government bonds. Its analysts were hauled in front of the Japanese parliament and heckled. Economists with guts, a rare breed.

http://www.moodys.com/cust/prodserv/prodserv_detail.asp?p=13&c=1&s=1