Moody&#39;s cuts SBC, BellSouth, and Cingular ratings
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Moody&#39;s Investors Service on Tuesday cut the debt ratings for SBC Communications Inc. (SBC.N: Quote, Profile, Research) and BellSouth Corp.
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International credit rating agency Standard and Poor's said it had cut its rating on the debt of French information technology services group Capgemini to junk status.
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WASHINGTON (CBS.MW) - Standard &amp; Poor&#39;s on Tuesday cut the debt rating of BellSouth and SBC Communications, citing stiff competition and potential problems in absorbing AT&amp;T Wireless.
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BellSouth Corp.  on Monday said third-quarter earnings fell due to storm damage in its region and the sale of some international assets.
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Between them, the three carriers have cut back the value of their long distance networks by $18.4 billion (AT&amp;T&#39;s writedown was $11.
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BellSouth Corp. BLS.N on Monday  said third-quarter earnings fell due to storm damage in its  region and costs stemming from Cingular Wireless' planned $41  billion purchase of AT&T Wireless Services Inc. AWE.N.
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Cingular, soon to be the United States&#39; largest cellular network, will drop the AT&amp;T brand six months after it completes its merger with AT&amp;T Wireless.
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Moody&#39;s Investors Service on Thursday  downgraded its debt ratings on Canadian publisher Thomson Corp.  and Reuters Group Plc, citing a significant increase in  leverage that will result from Thomson&#39;s pending acquisition of  Reuters.
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The state Public Utilities Commission also ordered Cingular, a joint venture of SBC Communications and BellSouth, to pay refunds to thousands of customers who were forced to pay up to $550 in fees to cancel their service from January 2000 to April 2002.
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Moody&#39;s Investors Service on Wednesday said it may cut its bond ratings on HCA Inc. (HCA.N: Quote, Profile, Research) deeper into junk, citing the hospital operator&#39;s plan to buy back about $2.
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Mortgage giant Freddie Mac is shutting down some operations of its debt-securities sales division and transferring others -- moves that experts said should tighten the company's internal controls after an accounting scandal.
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Standard & Poor's on Thursday cut its  "AAA" ratings on FGIC Corp's bond insurance arm, and placed its  top ratings on the bond insurance arm of MBIA Inc  on  review for downgrade.
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TORONTO -- The debt of Bombardier Inc., which makes aircraft and trains, was downgraded Thursday by Moody&#39;s Investors Service to below investment grade.
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The telecom company cuts medical benefits for its retirees.
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The last vestige of Merck&#39;s (MRK:NYSE - news - research) once-pristine credit was dispatched with Tuesday when Standard &amp; Poor&#39;s cut its long-term debt rating by three notches to double-A-minus from triple-A.
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XM and Sirius get hit with a downgrade.
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Moody's Investors Service cut its  ratings on Citigroup Inc  debt by a notch, the latest  embarrassment for the largest U.S. bank, and putting it under  renewed pressure to shore up its shrinking capital base.