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Moody`s Investors Service Inc. said it downgraded the senior debt rating of Baxter Travenol Laboratories Inc. to A3 from A1, convertible subordinated debentures to Baa1 from A2 and commercial paper to prime-2 from prime-1. American Hospital Supply Co. senior debt ratings were downgraded to A3 from Aa2, and commercial paper to prime-2 from prime-1. Moody`s said the ratings were lowered because the proposed merger of the two firms would increase debt.
