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They downgraded the feud, which he perceives as one-sided, before Mr. Cooper's death last June.
"Rather than creating gold standard qualifications they downgraded them to the lowest common denominator while inflating top grades.
They downgraded the stock to sell, with a price target of 450p compared to the previous 524p.
"That supports S.& P.'s contention behind why they downgraded us in the first place and perhaps justifies in their minds an additional downgrade.
But early today, they downgraded most of those numbers, saying New England would fare the worst, but even then not as bad as expected.
With so few of the friends finding jobs, they downgraded plans to a road trip to Reno, then to no road trip at all.
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"When they get downgraded they get downgraded by huge amounts rather than by very modest amounts," Herring says.
Standard & Poor's and Fitch raised CIT's credit ratings yesterday, back to the levels they held before they were downgraded amid Tyco's problems.
Despite intense American pressure, only Jordan, Kuwait, Yemen, Tunisiaand Oman have said they will go, and they have downgraded their delegations.
By October, when a recession was well under way, they further downgraded their estimates -- but again they said the economy should be growing in six months.
"The facility is already running at full capacity," they wrote in the note, in which they also downgraded the stock to underperform.
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