| RATING GAME (Feb 7-14) | ||
| Moody's Investors Service | ||
| Downgrades | From | To |
| AEP Resources Backed Sr. Unscd. | Baa2 | Baa3 |
| AMR Corp. Sr. Unscd. | B2 | Caa2 |
| AMR Corp. Sr. Unscd. MTN | B2 | Caa2 |
| American Electric Power Co. Sr. Unscd. | Baa2 | Baa3 |
| Appalachian Power Co. Sr. Scd. | A3 | Baa1 |
| Appalachian Power Co. Sr. Scd. MTN | A3 | Baa1 |
| Appalachian Power Co. Sr. Unscd. | Baa1 | Baa2 |
| Appalachian Power Co. Sr. Unscd. MTN | Baa1 | Baa2 |
| Public Service Co. of Oklahoma Sr. Scd. MTN | A1 | A3 |
| Public Service Co. of Oklahoma Sr. Unscd. | A2 | Baa1 |
| Quezcon Power (Philippines) Ltd. Sr. Scd. | Ba3 | B2 |
| Southwestern Electric Power Co. Sr. Unscd. | A2 | Baa1 |
| Crown Cork & Seal Co. Backed Sr. Scd. | B1 | B2 |
| Timken Co. Sr. Unscd. | Baa1 | Baa3 |
| Timken Co. Sr. Unscd. MTN | Baa1 | Baa3 |
| Ameren Corp. Sr. Unscd. | A2 | A3 |
| AmerenUE Sr. Scd. | Aa3 | A1 |
| AmerenUE Sr. Sub. | A2 | A3 |
| Rogers Cable Sr. Scd. | Baa3 | Ba2 |
| Rogers Cable Sr. Unscd. | Baa3 | Ba2 |
| Rogers Cable Backed Sr. Scd. | Baa3 | Ba2 |
| Rogers Cable Backed Sr. Sub. | Ba1 | Ba3 |
| Rogers Communications Sr. Unscd. | Ba1 | B2 |
| Union Fenosa Finance Backed Sr. Unscd. | Baa1 | Baa2 |
| Union Fenosa Finance Backed Sr. Unscd. MTN | Baa1 | Baa2 |
| ANR Pipeline Co. Sr. Unscd. | Ba1 | B1 |
| Colorado Interstate Gas Co. Sr. Unscd. | Ba1 | B1 |
| El Paso CGP Co. Sr. Scd. | Baa3 | Caa1 |
| El Paso CGP Co. Sr. Unscd. | Ba2 | Caa1 |
| El Paso CGP Co. Sub. | Ba3 | Caa3 |
| El Paso Corp. Sr. Unscd. | Ba2 | Caa1 |
| El Paso Corp. Sr. Unscd. MTN | Ba2 | Caa1 |
| El Paso Corp. Sub. | Ba3 | Caa3 |
| El Paso Natural Gas Co. Sr. Unscd. | Ba1 | B1 |
| El Paso Tennessee Pipeline Co. Sr. Unscd. | Ba2 | Caa1 |
| Gemstone Investor Ltd. Backed Sr. Unscd. | Ba2 | Caa1 |
| Sonat Inc. Backed Sr. Unscd. | Ba2 | Caa1 |
| Southern Natural Gas Co. Sr. Unscd. | Ba1 | B1 |
| Tennessee Gas Pipeline Co. Sr. Unscd. | Ba1 | B1 |
| East Coast Power Sr. Scd. | Baa3 | Ba2 |
| Progress Energy Sr. Unscd. | Baa1 | Baa2 |
| Fitch Ratings | ||
| Downgrades | ||
| CITGO Petroleum Corp. Sr. Unscd. | BB- | B+ |
| Iberdrola Sr. Unscd. | AA- | A+ |
| Goodyear Tire & Rubber Co. Sr. Unscd. | BB | B+ |
| Resource America Sr. Unscd. | B | B- |
| Dixons Group Sr. Unscd. | A- | BBB+ |
Rating Game (FEBRUARY 6 -- FEBRUARY 13)