By Will Sturgeon, 10 July 2002 08:50
NEWS French telecoms equipment giant Alcatel has become the latest technology firm to see its long-term debt downgraded to junk status by credit rating agency Moody's. Last month Alcatel issued a profit warning, saying its annual results will show a loss, and announced 10,000 job cuts. Moody's said Alcatel's liquidity could face further erosion amid a climate of falling demand for the company's products. Shares in Alcatel closed down two per cent on the news.
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