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But by 2004 they were downgraded amid industry tumult, and lawsuits over administration fees and other issues marred similar bonds.
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.
A report released by a group of MPs questioned Ofsted's judgement after they rated two of the schools as outstanding before they were downgraded to inadequate.
When the charges were filed a few weeks later, they were downgraded to bribery and theft of "commercial secrets," rather than espionage.
"On the other hand, there was market noise about the PIGS and the United States before they were downgraded," he noted, using an acronym for the European countries swept up in the debt crisis — Portugal, Ireland, Greece and Spain.
All said they believed they were downgraded solely because of an S.& P. rule that no insurer can have a higher rating than the sovereign debt of its home country.
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And credit ratings agencies quickly announced that they were downgrading the telecommunications giant by only one notch, keeping the company at investment grade.
Standard & Poor's and Moody's disclosed that they were downgrading or considering downgrading credit ratings on more than $17 billion-worth of bonds backed by subprime mortgages (aimed at low-income and poor-credit households) because they had underestimated the level of defaults.
Trump waged a multi-year war against them, saying they were "downgrading" the area around Trump Tower.
They also balked at letting international observers attend the elections, insisting they be downgraded to "witnesses".
If they are downgraded, both would see their credit slip from investment grade to junk.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com