BUSINESS BRIEFING / BANKING
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TIMES STAFF AND WIRE REPORTS
Wells Fargo & Co.’s senior debt ratings were cut by Moody’s Investors Service on concern that the acquisition of Wachovia Corp. would hurt earnings.
Moody’s reduced Wells Fargo’s debt two levels to Aa1 from Aa3 and lowered the bank’s financial strength three notches to B from A.
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