2005 record year for corporate downgrades -Moody's

Newswire

By Dena Aubin NEW YORK, Jan 31 (Reuters) - Last year marked the worst year on record for U.S. corporate bond downgrades, with ratings lowered on $1.24 trillion of debt, Moody's Investors Service said on Tuesday. The totals were inflated by multiple downgrades on a few large borrowers, including General Motors Corp. , which was downgraded three times, and Ford Motor Co. and American International Group , which were both downgraded twice, Moody's said. The previous record year for ...

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