Fitch Downgrades 2 Northern Trust Supported Issues.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 11, 2003 Following the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. rating downgrade Downgrade A negative change in the rating of a security. Notes: For example, an analyst may downgrade a stock from strong buy to buy, or a bond rating agency may downgrade a bond from AAA to AA. of The Northern Trust Company, Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. downgrades its ratings on 2 issues supported by the bank. The affected bonds and their ratings are listed below. For additional information, see Fitch's press release dated August 26, 2003 and available on the Fitch Ratings web site at 'www.fitchratings.com'. -- Missoula County (MT) (Dinny Stranahan Research Institute, Inc. Project) variable-rate demand economic development revenue bonds ser 2000 (LOC LOC - lines of code : Northern Trust Corporation) to 'AA-/F1+' from 'AA/F1+'; -- Palm Beach County (FL) (The Zoological Society of the Palm Beaches, Inc.) variable-rate demand revenue bonds, ser 2001 (LOC: Northern Trust Corporation) to 'AA-/F1+' from 'AA/F1+'. |
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