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Sotheby's Gets Another Debt Downgrade

June 18, 2009 by Marion Maneker

Bloomberg reports that Moody’s has joined Standard & Poors in downgrading Sotheby’s unsecured debt:

The review “reflects Moody’s concern that the duration and depth of the current cyclical downturn in the international auction market may be more severe” than originally expected, Moody’s said in a press release.

Sotheby’s Rating Faces Downgrade by Moody’s in Market Decline (Bloomberg)

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