DIAMOND BATHURST <DBJ> DEBT DOWNGRADED BY MOODY'S
Moody's Investors Service Inc said it
cut to B-2 from Ba-1 Diamond Bathurst Inc's subordinated notes
of 1995.
    Moody's said it expects the company's operating performance
would be hurt by heightened competition and by the increasing
inroads being made by other forms of packaging.
    It said Diamond should benefit from production efficiency,
quality control and plant closings. But due to the company's
major role in selling to the distilled spirits industry, one of
the smaller markets for glass containers, its margins and asset
returns may not materially improve, Moody's said.
 Reuter
