Moody's eyes ratings changes by end year - FT

NEW YORK, Oct 11 (Reuters) - Moody's Investors Service (MCO.N) expects to make changes to its system of rating thinly traded securities by the end of the year, the Financial Times reported on Thursday.

Moody's has been looking at measures of so-called "liquidity" and "market value" risk that could be issued alongside credit ratings, which indicate the risk an instrument will default.

"I would expect that it would be a matter of months but probably not more, possibly by the end of the year, to have some fundamental value measures available," Moody's Chief Executive Ray McDaniel was quoted as saying by the paper.

Like rivals Standard & Poor's and Fitch Ratings, Moody's has been criticized for giving high ratings to bonds backed by risky subprime mortgages.

A representative for Moody's was not immediately available for comment.