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S&P cuts Equitable Resources
Standard & Poor's said it lowered its short-term issuer rating on Equitable Resources Inc. to A-3 from A-2.
The action represents a correction of existing ratings, rather than a response to new information about Equitable or a change in our view of the company's credit quality, the agency said.
The agency noted that it neglected to lower Equitable's short-term rating on Jan. 15, 2008, when it lowered the company's corporate credit rating to BBB and revised the outlook to negative.
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