Rating agency Moody’s assigned Sky a B3 rating with a stable outlook, placing the protocol in its speculative-grade category. Sky holds approximately $90 million in equity against $10 billion in managed assets, representing an extremely thin buffer. This setup exposes the protocol to heightened risk in the event of significant fluctuations in the value of underlying assets. The stable outlook indicates, however, that Moody’s does not anticipate any negative changes in the near term.
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