GERMANY - German industrial conglomerate ThyssenKrupp became the first European company to be downgraded over its pension fund deficit following an earlier warning from credit ratings agency Standard & Poor's.
Thyssen Krupp was lowered to 'BB+/B' status from 'BBB' , rendering it a junk bond. Its short-term rating was lowered from to 'B' from 'A-2'. In addition, the senior unsecured debt ratings on Thyss...
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