CLEVELAND -- Forest City Enterprises said it can manage its debt and increase its liquidity after Standard & Poor's Rating Services cut the company's credit ratings. The real estate developer, based in Cleveland, released a statement Thursday after Standard & Poor's reduced ratings on Forest City's corporate credit and senior unsecured notes.The ratings agency lowered its ratings based on concerns about Forest City's debt load and the company's ambitious development plans in a weak economy. "We interpret this action in light of the macroeconomic factors impacting nearly every sector of the economy, including real estate," said Charles A. Ratner, the company's president and chief executive officer. "These are clearly difficult times, given the condition of capital and credit markets.