The two biggest rating agencies took divergent paths, whipsawing Stratford, Conn., with an upgrade and a downgrade of its general obligation rating within a 45 minute period.

At 3:45 p.m. on Sept. 20, Moody’s Investors Service downgraded Stratford to A1 from Aa3. At 4:32 p.m. Standard & Poor’s, which is adopting new rating criteria, upgraded the town of about 51,000 to AA from AA-minus.

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