Fights rating
By Tony Hallett
Published: 31 May 2002 07:30 GMT
Qwest Communications, a US telco serving long-distance markets and states in the north-west of the country, has had its debt awarded junk bond status by the two large credit rating agencies.
Now Moody's has joined Standard & Poor's in downgrading Qwest's standing.
Qwest has publicly fought the decision but to no avail.
Qwest is a 47 per cent stakeholder in KPNQwest, the near-bankrupt European business telco.
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