Moody's plans ratings rules that may lift property bond grades

New York

MOODY'S Investors Service is planning to change its approach to rating a fast-growing type of commercial mortgage-backed security that could result in better grades on many deals and bring the firm more business.

The company said on Thursday that it was requesting feedback on proposed changes to the way it assesses some of these securities, including those that transform giant single mortgages - such as on a portfolio of hotels - into a series of bonds with varying risks. Based on the new …