Moody’s says Europe and North America upgrades and downgrades were roughly balanced
Downgrades financial strength rating
Yield spreads have been extremely tight and can only widen going forward, company says
May signal turning point, says Moody’s director
Third consecutive year of improvement, Moody’s says
Follows announcement of corporate reorganization
Market participants give positive comments
Also, corporate bond ratings continue to be very accurate
Moody’s maintains Aaa rating, stable outlook
Could reach 2.5% by July 2005, Moody’s says