Adecco, the Switzerland-based temporary staffing group, suffered a further blow on Wednesday after Moody's, the rating agency, cut its debt to to junk just a day after rival Standard & Poor's made a similar move.

Moody's in Paris downgraded Adecco's long-term credit rating to Ba1 from Baa3 after the staffing group further delayed the publication of its full-year accounts amid its continuing investigation into "misappropriations or irregularities", specifically in its North American subsidiary.