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These damaged crops can sometimes be salvaged for juice, but that's a cold comfort to growers, because fruit loses as much as eighty to ninety per cent of its value when it's downgraded from produce to processing.
"It's just not on their radar as trafficking, it's downgraded to a lesser offence which minimises the issue," says Thorburn.
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Rival Munich Re's is higher, and it was downgraded by Moody's, which may do the same to Swiss Re.
It got a shock when it was downgraded by Moody's, a ratings agency, last year.
UBS fell 2.7%, in Zurich, after it was downgraded by Moody's.
WA lost its Aaa rating from rival credit agency Moody's in August, when it was downgraded to Aa1.
Hurricane Ingrid sent thousands to shelters on Mexico's eastern Gulf Coast before it was downgraded to a tropical storm just before it made landfall.
Tesco needs to raise billions to offset a collapse in profits and win back its credit rating after it was downgraded to junk by rating agencies.
The city's bond rating is now at its highest level ever — AA — and the last time it was downgraded was 1995, said Robin Prunty, senior director in Standard & Poor's public finance department, who analyzes New York City's budget.
Moody's Investors Service cut the Chicago Board of Education's rating in July and again last week, when it was downgraded to A2 with a negative outlook from A1.
Ford held a rating of at least A on its long-term debt from 1984 through October 2001, when it was downgraded to BBB+.
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