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S&P on Enron downgrade
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November 28, 2001: 3:40 p.m. ET
Todd Shipman of S&P explains why his firm cut Enron's rating to 'junk' status.
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NEW YORK (CNN/Money) - Standard & Poor's move lowering Enron Corp.'s credit rating to "junk" status Wednesday threatens Enron's ability to meet its obligations, and some say it could be the final nail in the coffin for what was until recently one of the largest energy companies in the U.S.
Todd Shipman, energy analyst at S&P, talks about Enron's near-term outlook and explains why his company lowered its credit rating. 
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