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Gold/Mining/Energy : GOLD-XAU -- Ignore unavailable to you. Want to Upgrade?

To: LesX who wrote (858)	12/23/1997 11:52:00 AM
From: Bucky Katt	Respond to of 1756

South Korea received its worst credit rating yet on Tuesday when international rating agency Fitch IBCA downgraded the country's long-term foreign currency debt to B minus, six notches below investment grade. The downgrade from BBB minus followed moves by Moody's Investor Services and Standard & Poor's to cut South Korea's rating to ''junk bond'' status on Monday. This week's savage downgrades mirror the growing crisis in Seoul where officials are scrambling to roll over short-term debts of up to $20 billion falling due this month. But many analysts criticised the rating agencies for failing to detect Korea's weaknesses earlier, reacting instead with abrupt changes.