TEXT-S&P cuts ratings on Argon Capital's notes to BBB from BBB+


(The following statement was released by the ratings agency). LONDON, Oct 29 - Standard & Poor's Ratings Services said today it lowered its credit ratings on the notes issued in two repackaged securities transactions to 'BBB' from 'BBB+'. At the same time, the ratings were removed from CreditWatch, where they had been placed on Oct. 17, 2002 (see list below). The action follows the lowering of the senior unsecured debt ratings on Ford Motor Co. (BBB/Negative/A-2) and its financial ...

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