NEW YORK, April 3 (Reuters) - U.S. companies’ ability to raise cash to run their business deteriorated to its weakest level since September last month due to liquidity downgrades of riskier firms including electric car maker Tesla, a report from Moody’s Investors Service released late Tuesday showed.
The rating agency said its “Liquidity-Stress Index” rose to 2.8 percent in March from 2.7 percent in February. It has increased from a record low of 2.5 percent set in December.
The Moody’s index falls when corporate liquidity rises and it rises when liquidity condition deteriorates. (Reporting by Richard Leong)