Two big airline stocks slumped as a result of lowered ratings from brokerage firms, hurting the Dow transportation index.

A lowered rating could raise borrowing costs for big Japanese corporations with impeccable credit.

Because of the lowered rating, I.B.M. will have to pay an extra 15 basis points, or 15 one-hundredths of a percentage point, in interest charges.

The rating agency has placed Passaic County's solid waste bonds on a "watch," a move that often precedes a lowered rating, officials said yesterday.

The lowered ratings also mean that these big investors will not be buying new issues of such debt.

In 1978, after five seasons and 118 episodes, CBS canceled the show because of lowered ratings.

The lowered ratings resulted from Moody's special review of the risks to banks and savings institutions from real estate lending.

The lowered rating is then referred to as a fire protection rating, both for firestops, unless they contain plastic pipes and regular closures.

And Donlan concedes some sort of "adjustment" for television might be necessary if home viewers were forced to watch strike teams, thus assuring lowered ratings.

The lowered rating may lead to a rise in the cost of borrowing for Indian companies, particularly in infrastructure projects, and may hurt investor sentiment.