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Ratner Parent Company Stock Slides on Concerns over Brooklyn

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Forest City Enterprises, the Nets' single largest stockholder at 23%, saw its own stock crumble this week, with one rating agency dropping its credit rating even after the IRS agreed to permit tax-free financing for the Nets new arena. Standard & Poor's, noting FCE has already sunk $250 million into Bruce Ratner's Atlantic Yards--and the Nets, said it was "particularly concerned" about the project's viability.