News in Brief: Moody blue

Saturday 21 August 1993 23:02 BST

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MOODY'S, the debt-rating agency, has downgraded IBM for the second time in 18 months. It lowered its rating on dollars 28bn (pounds 18.5bn) of IBM debt and preferred stock, saying the computer giant would be under pressure as it sought to wean itself away from the dwindling mainframe business.

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