Moody's Investors Service, citing strained credit metrics, has downgraded the ratings of CB Richard Ellis' senior debt to Ba2 from Ba1. The credit rating agency said the action reflects its view that improving these metrics over the intermediate term will be difficult given the deep economic downturn and ongoing challenges in the capital markets. The negative outlook reflects Moody's concern that the current economic pressures could be long-lasting and result in further deterioration in the company's operating performance.
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