Cupertino-based Apple Computer Inc.’s debt ratings were...
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Times Staff and Wire Reports
Cupertino-based Apple Computer Inc.’s debt ratings were lowered by Moody’s Investors Service because the computer maker is facing “growing isolation” in the personal computer industry. Apple’s long-term senior unsecured debt was cut to B3 from B1. The company’s subordinated debt was cut to Caa from B3. . . . Shareholders of Fresno-based ValliCorp Holdings Inc. and San Rafael-based Westamerica Bancorp have approved a merger agreement.
