Some Lockheed Debt Ratings Reduced: The investment...

Some Lockheed Debt Ratings Reduced: The investment rating firm of Standard & Poor’s downgraded its rating of Lockheed’s senior debt and preliminary shelf-registered debt to A from A plus. S&P; blamed the reductions on Lockheed’s “weakened earnings prospects in a difficult defense procurement environment.” It cited Lockheed’s disclosure this week that it would report a $35-million third-quarter loss. S&P; asserted that the tight defense market would make it difficult for the company to compensate for the loss in earnings on the C-5B plane program.