The phrase "agencies lower" is not correct and does not convey a clear meaning in written English.
It may be intended to refer to lower-level agencies or agencies that have reduced authority or status, but as it stands, it lacks clarity and context.
Example: "The report highlighted the challenges faced by agencies lower in the hierarchy."
Alternatives: "lower-tier agencies" or "subordinate agencies".
If those agencies lower their ratings, that could translate into increased borrowing costs for Alcatel.
If the rating agencies lower their ratings, Nortel could effectively be shut out of the commercial paper market, market analysts warned.
The bank's share value plummets, depositors panic and withdraw their money, credit rating agencies lower the bank's standing which means that it has to borrow money at higher and higher interest to cover its obligations.
The heavy debt Venezuela government is bearing has made agencies lower the sovereign rating of Venezuela to CCC+.
He has said that ratings agencies lowered their standards in pursuit of profits.
On Monday, the two big credit agencies lowered their ratings on Lucent debt to a notch above junk status.
With warnings about the state's habitual borrowing and expanding budget, two of the major credit-rating agencies lowered their ratings of New Jersey bonds on Tuesday.
Along with the fall in the value of Altria stock, credit agencies lowered the ratings of bonds issued by Altria, Philip Morris and Altria's other subsidiaries, like Kraft Foods.
Two credit-rating agencies lowered their ratings on the debt of Lucent Technologies yesterday, adding to the telecommunications equipment maker's woes.
Already tepid growth forecasts have been slashed, and credit rating agencies lowered South Africa's debt rating for the first time since the end of apartheid.
In recent months, Sorrell and the agency business suffered financial hits, as clients curbed ad spending, competition intensified, and agencies lowered their future financial projections and their stocks got hammered.
