| Moody's Investors Service | ||
| Downgrades | From | To |
| Chesapeake Corporation Sr. Unscd. | Baa3 | B1 |
| Providian Financial Corp. Sr. Unscd. | Ba1 | Ba3 |
| Providian Financial Corp. Sr. Unscd. MTN | Ba1 | Ba3 |
| Providian Financial Corp. Sub. MTN | Ba2 | B1 |
| Providian Financial Corp. Jr. Sub. | Ba2 | B2 |
| Providian National Bank Sr. Unscd. | Baa3 | Ba2 |
| Vantico Group S.A. Sr. Unscd. | B3 | Caa1 |
| Viasystems, Inc. Sr. Sub. | B3 | Caa3 |
| York Funding (Cayman) Ltd. Sr. Scd. | Ba3 | Caa1 |
| Burlington Resources, Inc. Sr. Unscd. | A3 | Baa1 |
| Louisiana Land & Exploration Co. Sr. Unscd. | Baa1 | Baa2 |
| APP China Group Ltd. Backed Sr. Unscd. | Caa3 | Ca |
| APP Finance (VI) Mauritius Ltd. Backed Sub. | Caa3 | Ca |
| APP Finance (VII) Mauritius Ltd. Backed Sr. Unscd. | Caa3 | Ca |
| APP Global Finance (III) Cayman Ltd. Sr. Scd. | Ca | C |
| APP Intl. Finance (Mauritius) Ltd. Backed Sr. Unscd. MTN | Caa3 | Ca |
| APP Intl. Finance Company B.V. Backed Sr. Scd. | Caa3 | Ca |
| APP Intl. Finance Company B.V. Backed Sr. Unscd. MTN | Caa3 | Ca |
| Capitol Records, Inc. Backed Sr. Unscd. | Baa1 | Baa2 |
| Carrier1 Intl. S.A. Sr. Unscd. | Caa2 | C |
| GPU, Inc. Sr. Unscd. | Baa1 | Baa2 |
| Indah Kiat Finance Mauritius Ltd. Backed Sr. Unscd. | Caa3 | Ca |
| Indah Kiat International Finance Company B.V. Backed Sr. Scd. | Caa3 | Ca |
| LIN Holdings Corp. Sr. Unscd. | B3 | Caa1 |
| LIN Television Corp. Sr. Unscd. | B1 | B2 |
| LIN Television Corp. Sr. Sub. | B2 | B3 |
| Pindo Deli Finance Mauritius Ltd. Backed Sr. Unscd. | Caa3 | Ca |
| Tjiwi Kimia Finance Mauritius Ltd.Backed Sr. Unscd. | Caa3 | C2 |
| Trump's Castle Funding, Inc. Sr. Scd. | Caa1 | Caa3 |
| Young Broadcasting Inc. Sr. Sub. | B2 | B3 |
| Burlington Resources, Inc. Sr. Unscd. | A3 | Baa1 |
| Louisiana Land & Exploration Co. Sr. Unscd. | Baa1 | Baa2 |
| Columbus McKinnon Corp. Sr. Sub. | B2 | B3 |
| Netia Holdings B.V. Backed Sr. Unscd. | Caa1 | Ca |
| Netia Holdings II B.V. Backed Sr. Unscd. | Caa1 | Ca |
| Texon Intl.plc Sr. Unscd. | Caa1 | Caa3 |
| Corning Inc. Sr. Unscd. | A3 | Baa1 |
| Corning Inc. Sr. Unscd. MTN | A3 | Baa1 |
| General Mills Inc. Sr. Unscd. | A3 | Baa1 |
| General Mills Inc. Sr. Unscd. MTN | A3 | Baa1 |
| Metals USA, Inc. Sr. Sub. | B3 | Caa2 |
| Oak Industries Inc. Backed Sub. | Baa1 | Baa2 |
| Royal & Sun Alliance Insurance Group Plc Backed Sub. | A2 | A3 |
| Royal Insurance Holdings plc Sub. | A3 | Baa1 |
| Weirton Steel Corp. Sr. Unscd. | Caa3 | Ca |
| Fujitsu Finance (UK) PLC Backed Sr. Unscd. | A2 | A3 |
| Fujitsu Finance (UK) PLC Backed Sr. Unscd. MTN | A2 | A3 |
| Fujitsu Intl Finance (Netherlands) BV Backed Sr. Unscd. MTN | A2 | A3 |
| Fujitsu Ltd. Sr. Unscd. | A2 | A3 |
| Matsushita Electric Industrial Co., Ltd. Sr. Unscd. | Aa2 | Aa3 |
| ACT Manufacturing, Inc. Sub. | B3 | Caa3 |
| PRIMEDIA Inc. Sr. Unscd. | Ba3 | B1 |
| PRIMEDIA Inc. Backed Sr. Unscd. | Ba3 | B1 |
| Prestolite Electric Inc. Backed Sr. Unscd. | B3 | Caa2 |
| Alliant Energy Resources, Inc. Backed Sr. Unscd. | A3 | Baa1 |
| Upgrades | ||
| Intl.Telecommunications Satellite Backed Sr. Unscd. | A3 | A2 |
| Universal Health Services, Inc. Sr. Unscd. | Ba1 | Baa3 |
| Boston Scientific Corp. Sr. Unscd. | Baa3 | Baa2 |
| Union Planters Bank, Sub. | Baa1 | A3 |
| Union Planters Corp. Sub. | Baa2 | A3 |
| Union Planters Corp. Jr. Sub. | Baa2 | A3 |
| Optus Finance Pty Ltd. Sr. Unscd. | Baa1 | A2 |
| Optus Finance Pty Ltd. Backed Sr. Unscd. | Baa1 | A2 |
| Optus Finance Pty Ltd. Backed Sr. Unscd. MTN | Baa1 | A2 |
| FITCH | ||
| Downgrades | ||
| Corporacion Durango Rating Sr. Notes | BB- | B+ |
| Enron Sr. Unscd. Debt | BBB+ | BBB- |
| Fairfax Financial Holdings Ltd. Sr. Debt | BBB- | BB+ |
| Upgrades | ||
| MRS Logistica's Sr. Unscd. | B+ | BB |
| Lockheed Martin's (LMT) Sr. Unscd. Debt | BBB- | BBB |
Rating Game (November 1--November 8)