Reuters: WaMu cut to "junk," sees $4.5 billion loss reserve

[chris]

WaMu cut to "junk," sees $4.5 billion loss reserve
      

NEW YORK (Reuters) - Washington Mutual Inc  was downgraded to below investment-grade status by Moody's Investors Service, after the largest U.S. savings and loan projected a $4.5 billion third-quarter increase in reserves for bad loans but said it has more than enough capital.
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