WorldCom's credit rating was cut below investment grade yesterday by Moody's Investors Service, but the company narrowly averted a cash squeeze by securing a waiver from its lenders that allows it to have access to an important borrowing program. Moody's says: "We estimate that WorldCom's operating earnings will fall below its interest obligations within six months." Translation: a debt default may be on the horizon, or closer. Credit Rating of WorldCom Is Cut to Junk | 
