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* Xerox Corp. had ratings on about $9 billion in bonds lowered by Moody’s Investors Service Inc. because of concern about the world’s largest copier company’s high debt burden and slowing sales. Xerox’s bonds were cut three rating grades to B1 from Ba1.
* American International Group Inc. named two chief operating officers, addressing investors’ concerns over who will assume the leadership of the world’s No. 1 insurance firm when Chairman Maurice Greenberg, 77, retires or dies.
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