SECURITIES
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Credit Rating Shifts Are Mostly Downgrades: Credit rating downgrades more than doubled upgrades in the third quarter, according to the national credit rating agency Duff & Phelps. The company raised ratings on 16 credits and lowered them on 34. This compares to six upgrades and 35 downgrades in the third quarter of 1990. “Prolonged economic weakness has resulted in greater than expected deterioration in the financial measures of many U.S. companies,” said Daniel J. Donoghue, group vice president.
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