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May 28, 2003 | From Bloomberg News
Debt backed by royalties of recording artist David Bowie may be cut by Moody's Investors Service, in part because of a drop in music sales, the ratings company said. The review was prompted by lower than expected revenue generated by the assets backing the $55-million issue, first sold in February 1997, Moody's said. About $40 million of the securities may be affected. The Bowie-backed notes, issued by Jones/Tintoretto Entertainment Co., are rated A3 by Moody's.
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BUSINESS
March 23, 2004 | From Bloomberg News
Debt backed by royalties of British recording artist David Bowie was cut three levels by Moody's Investors Service because of a drop in music industry sales. The rating on $55 mil- lion in debt by Jones/Tintoretto Entertainment Co., which issued the bonds, was reduced to Baa3 from A3. The reduction completes a review begun in May, New York-based Moody's said in a research note last week.
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