Moody's raises Nasdaq's rating to investment grade

NEW YORK, Nov 11 (Reuters) - Moody's Investors Service on Wednesday raised its rating on Nasdaq OMX (NDAQ.O) to investment grade from junk status, citing success in diversifying revenues, integrating mergers and boosting profits.

Nasdaq OMX, parent company of the Nasdaq Stock Market exchange, has rebounded from five quarters of U.S. market share declines, helped by fee changes and other items. For details click on [ID:nN04461668].

Moody's raised Nasdaq's rating to Baa3, the lowest investment grade, from Ba1. Nasdaq has reduced debt by $435 million so far in 2009 and management is expected to maintain a more credit-friendly financial policy than in the past, Moody's said in a statement. (Reporting by Dena Aubin; Editing by James Dalgleish)