BANKING

Bankers Trust Co. Credit Ratings Cut: Moody’s Investors Service Inc. lowered the long-term rating for Bankers Trust New York Corp.’s banking unit, Bankers Trust Co., to A1 from Aa3, and cut the unit’s counterparty risk rating--used to value derivatives--to A1 from Aa3. The parent company’s senior debt rating was cut to A2 from A1. As Bankers Trust faces a shift in its business focus, sinking demand for the derivatives, its biggest business, could eat into earnings for some time, Moody’s said. Bankers Trust called the downgrade unwarranted.