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Actionable news in IEP: Icahn Enterprises L.P.,

Icahn’s investment firm downgraded to junk status at S&P

Carl Icahn looking worried, in February 2006

Standard & Poor’s Global Ratings on Tuesday cut its rating on Carl Icahn’s investment firm to junk territory, citing the firm’s weak investment performance and high borrowing levels.

The one-notch downgrade places Icahn Enterprises LP IEP, -0.42% at double-B-plus, with a stable outlook...