Marconi’s high asset variability (at five times the average of the property sector) impairs its FirstKnow.It credit rating. Even with a share price seven times its current level, Marconi was only rated a BBB- in February and the fall to mid March saw it dip to a CC, remaining in the C band until mid June when it became classed as a D. The share suspension and further profit downgrade did serious damage to the share price and credit rating, with the company now rated a very poor D- and still deteriorating. The move from the B category to C category in March was a key indicator to credit managers of the deteriorating outlook for the company.