After the announcement, Fitch Ratings cut its rating on Clorox by one notch, saying the mainly debt-financed acquisition would weaken Clorox's credit quality and reduce financial flexibility.
8.17pm GMT S&P downgrades Cyprus Another blow: Standard & Poor's has cut its credit rating on Cyprus by one notch a few minutes ago, to CCC.
One reason for yesterday's move was the decision by Moody's Investors Service to lower its rating on Kraft securities by one notch, to A3, at the same time that it lowered the ratings of Altria.
And today, Standard & Poor's lowered its rating on Enron's senior debt by one notch, leaving it a few notches above junk bond status.
And Standard & Poor's reduced its rating on the company's debt by one notch, to A-, saying that additional downgrades were likely.
With sensitivities running this high, it is not surprising Ireland reacted rather badly to a demotion by Standard & Poor's, which cut its ranking by one notch to AA-minus late on Tuesday evening, describing the outlook as "negative".
S.&P. lowered its rating on Sony's long-term corporate bonds by one notch, to A from A+.
Moody's Investors Service cut the rating yesterday on Vivendi Universal's long-term debt by one notch, to Baa3, near junk level.
On Dec. 20, Standard & Poor's dropped AT&T's credit rating by one notch, costing the company $25 million more a year.
Moody's Investors Service has downgraded its rating on the senior unsecured debt of the Omnicom Group in New York by one notch, to three notches above junk status.
On Monday, Standard & Poor's lowered its long-term credit rating of Credit Suisse by one notch, to A+, because of continuing cost issues at the group's investment banking unit.
