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S&P downgrades National Rural Utilities
Standard & Poor's said it has corrected and lowered its rating on the subordinated debt of National Rural Utilities Cooperative Finance Corp. to BBB from BBB+.
The agency said it lowered on Feb. 24, 2009 the issue ratings on the hybrid capital securities of certain U.S. financial institutions, including those of National Rural Utilities.
But, due to an administrative error, the agency said it did not contemporaneously lower its hybrid capital instruments.
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