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July 18, 2002

* WorldCom Inc. sought to calm its creditors by offering to promise not to sell any of its subsidiaries over the next 70 days, a move a company lawyer said was an effort to buy itself breathing room.

* Qwest Communications International Inc. had its credit rating slashed three levels by Standard & Poor's on concern the telephone company would default on a bank loan and fail to make debt payments. Its long-term rating was cut to B-plus from BB-plus.

* AT&T Corp. President David Dorman will succeed C. Michael Armstrong as chairman and chief executive once the long-distance phone company completes the sale of its cable TV business to Comcast Corp.

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