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1. Cathay Pacific saw its target price downgraded yesterday as fuel prices continue to soar sky high.

2. A negative outlook means there is 33 percent chance that it will be downgraded again in the next two years.

3. Venezuela and Mexico will maintain commercial ties and diplomatic contacts although their political relations will be downgraded.

4. Market confidence was consequently hit and many global investment institutions downgraded their expectations of industrial growth in the third quarter.

5. The country's local and foreign currency sovereign credit ratings were downgraded from BB - to B +, the rating agency said.

6. The ratings agency Standard and Poor's gave Paris a jolt on Thursday, announcing " in error " it had downgraded France's credit worthiness.

7. Standard & Poor's recently downgraded Italy's credit rating outlook to " negative ", following concerns over the nation's ability to meet its debt targets.

8. In December, ratings agencies Moody's and Standard and Poor's downgraded Hungary's sovereign credit to junk status.

9. Japan's ability to tackle its massive debt came under scrutiny after Moody's Investors Service downgraded its outlook for Japan's credit rating.

10. Shanghai Pudong Development Bank Co and Industrial Bank Co dropped more than 4 percent after Morgan Stanley downgraded its recommendation on the two banks.