He had a neat idea and that was to give letter grades to securities that represented credit worthiness.

他有个绝妙的主意,就是用字母,给证券评级,以此来代表其信用状况

耶鲁公开课 - 金融市场课程节选

In these books he talked about his moral commitment to honest rating of securities.

在那些书中,他谈到了有关,诚信进行证券评级的道德信念

耶鲁公开课 - 金融市场课程节选

The idea was that the --so he set up Moody's Rating Agency and the job of Moody's was to give letter grades to securities; it was a little bit like a bank, but it was different because he didn't actually make the loans.

主旨是... 因此他成立了穆迪评级机构,穆迪的工作就是用字母给证券评级,这有点像银行,但还是有区别,因为他并不发放贷款

耶鲁公开课 - 金融市场课程节选

Recently, however, there is a bit of a scandal regarding these rating agencies because they gave AAA ratings to some subprime securities.

但是,最近,出现了一点关于评级机构的丑闻,因为他们将一些次级证券评为AAA级

耶鲁公开课 - 金融市场课程节选