41.   In fact, it postponed an analyst conference set for later this month so it could work with the rating agencies.

42.   In the end, the rating agencies hardly mattered.

43.   Investors and debt rating agencies have been eagerly waiting for the financial details of the split, particularly how the company planned to allocate its debt.

44.   International rating agencies have responded by downgrading the creditworthiness of Japanese carriers.

45.   It is under review by both rating agencies.

46.   Now they are single-A, and the rating agencies have threatened to lower them further if the company does not raise enough cash by selling assets.

47.   Now, Dynegy must convince investors and bond rating agencies that it has less in common with Enron than it said earlier this month.

48.   Of course, rating agencies may view a settlement as a burden that more than offsets any protection the industry gets against future lawsuits.

49.   One problem for a new insurance company is that initially, without a track record, it cannot obtain a classification from the major rating agencies.

50.   --Our debt is currently rated investment grade by one rating agency and below investment grade by four rating agencies.