Refco Inc. Message Board

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Non-Tech : Refco Inc.

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To: stock2005 who wrote (3)	10/13/2005 2:01:08 PM
From: stock2005	Read Replies (1) of 9

More bad news on there debt. NEW YORK, Oct 13 (Reuters) - Standard & Poor's on Thursday cut its ratings on Refco Group Ltd. deeper into junk territory and said it may cut them again, citing substantial doubts about liquidity at the commodities and futures brokerage. S&P cut Refco's counterparty credit rating by two notches to "B-minus," the sixth-highest junk rating, from "B-plus." Ratings remain on review for further downgrades. Refco on Thursday said liquidity at a major unit is no longer sufficient to continue operations, fueling concerns about the firm's survival. Federal authorities on Wednesday charged Refco's former chief executive Philip Bennett with securities fraud over hundreds of millions of dollars in transactions owed to the company by an entity he controlled.

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