MOODY'S CUTS RATING OF COMMERZBANK DEBT

MOODY'S CUTS RATING OF COMMERZBANK DEBT

Moody's Investors Service Wednesday cut Commerzbank's senior debt rating to ''Aa2" from "Aa1."

About $3.9 billion of long-term debt is affected.Moody's said its decision was prompted by Commerzbank's "deteriorating asset quality, as a result of the weak German and European economies, which are likely to continue to pressure asset quality over the intermediate term."