"The rating downgrades reflect Moody's view that poor returns from investments outside the regulated utility business in the US have resulted in a significant deterioration of operating cashflows," Moody's said. "Market conditions and the results of the company's business segments have forced it to sell assets to meet liquidity pressures. The company relies on asset sales to shore-up its liquidity position this year and next. Announced asset sales total approximately $400 million, and could reach $1 billion by year-end. "