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However, this extremely difficult environment has inevitably had an impact on both our sales and profitability".
"While we do not believe that this outcome reflects all of the transformative changes we have made to the firm, there is an acknowledgment in Moody's decision today that real progress has been made at Morgan Stanley, in what is an extremely difficult environment for our industry," he wrote.
National Australia Bank posted a 0.9% drop in net profit amid what it termed an "extremely difficult" environment; traders responded favorably to that, and to its relatively low level of write-downs, sending shares 7.3% higher, to 24.66 Australian dollars ($16.88).
"It is an extremely difficult environment to work in.
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Fitch, a leading rating agency, recently gave it an investment-grade rating, noting that it had operated successfully in some extremely difficult environments.
The toys are part of a treasure box that makes up the ECD kits, and help restore a sense of hope and normalcy to children living in extremely difficult environments".
"In this extremely difficult financial environment," Delta said in a statement, "the company must pursue all opportunities to reduce costs".
Chief executive Philip Bowman said the results were "very strong figures in what is an extremely difficult market environment".
Qantas released a response in which its chief financial officer, Gareth Evans, said the downgrade was not unexpected and underlined the importance of taking decisive action to address an extremely difficult operating environment.
Putting a fine point on the concern, the National Venture Capital Association issued a statement today saying the industry "is preparing for an extremely difficult economic environment" in the next 12 to 18 months.
"They are cramming what would probably be five or six years' worth of work into a period of several months, and they are undertaking this in an extremely difficult security environment due to the ongoing civil war".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com