DUFF AND PHELPS UPGRADES PHILIP MORRIS <MO>
Duff and Phelps said it is upgrading to
its highest level, Duff 1+ (one plus) from Duff 1, the rating
on about 836 mln dlrs of Philip Morris Companies Inc commercial
paper.
    The change reflects the company's improvement in retiring
debt incurred in the the acquisition of General Foods Corp, and
the ability of both the tobacco and food product lines to
generate cash flow, Duff and Phelps said.
 Reuter
