MOODY'S |
FROM |
TO |
UPGRADES |
CapRock Communications Corp. sr. unsec. |
B3 |
B1 |
Printpack, Inc. sr. unsec. |
B3 |
B2 |
sr. sub. |
Caa1 |
B3 |
Read-Rite Corp. sub. |
C |
Caa3 |
DOWNGRADES |
Cray Research, Inc. backed sub. |
B2 |
Caa2 |
LTV Corp. (The) backed sr. unsec. |
B2 |
Ca |
National Steel Corp. first mtg. bonds |
B2 |
Caa1 |
PG&E Gas Transmission, Northwest Corp. sr. unsec., sr. unsec. MTNs |
A3 |
Baa1 |
Pennzoil-Quaker State Co. sr. unsec. |
Baa2 |
Baa3 |
Quality Stores, Inc. sr. unsec. |
B2 |
B3 |
SGI sr. unsec. |
B1 |
B3 |
STANDARD & POOR'S |
UPGRADES |
Anheuser-Busch Cos. Inc. Euro. notes |
A |
A+ |
Aracruz Celulose S.A. notes |
B+ |
BB- |
Banco Citibank S.A. sr. unsec. Brazil-related MTNs |
B+ |
BB- |
Banco Nacional de Desenvolvimento Economico e Social notes, |
var. rate notes |
B+ |
BB- |
Banco do Nordeste do Brasil S.A. (BNB) notes |
B+ |
BB- |
Brazil (Federative Republic of) local currency |
BB |
BB+ |
foreign currency, bonds, brady bonds, global bonds, notes |
B+ |
BB- |
ClimaChem, Inc. sr. notes |
D |
C |
Eletrobras - Centrais Eletricas Brasileiras S.A. bonds |
B+ |
BB- |
Espirito Santo Centrais Eletricas S.A. notes |
B+ |
BB- |
HSBC Bank Brasil S.A. Euro MTNs, sr. Euro MTNs, sub. Euro MTNs |
B+ |
BB- |
LIR Energy Ltd. global gtd. notes |
B+ |
BB- |
Penhall International Inc. sr. notes |
B- |
B |
Unibanco-Uniao de Bancos Brasileiros, S.A. MTNs, sr. unsec. MTNs |
B+ |
BB- |
DOWNGRADES |
EES Coke Battery Co. Inc. sr. sec. notes |
B |
B- |
EV International, Inc. sr. sub. notes |
CCC+ |
CCC- |
Telex Communications, Inc. sr. sub. notes |
CCC+ |
CCC- |
WHX Corp. conv. pfd. stock |
C |
D |
Vlasic Foods International Inc. sub. notes |
C |
D |