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MF Global Holdings Ltd., the futures broker run by Jon Corzine, drew down its revolving credit lines this week as the company reported its biggest quarterly loss and had its ratings cut, said three people with knowledge of the matter.
The New York firm exhausted its bank lines, they said, speaking on condition of anonymity because the move wasn’t disclosed. Fitch Ratings cut MF’s credit rating to BB+, or below investment grade, from BBB.
