SAN FRANCISCO (MarketWatch) -- Moody's Investors Service said Thursday it downgraded Leggett & Platt Inc.'s /quotes/comstock/13*!leg/quotes/nls/leg (LEG 17.83, +0.02, +0.11%) long term rating to Baa1 from A3. Moody's said it expects lower operating and free cash flow for the foreseeable future because of weak residential and automotive consumer spending.

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