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Technology Stocks : TAVA Technologies (TAVA-NASDAQ)
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To: Captain Jack who wrote (8459)1/6/1998 11:33:00 PM
From: Karl Drobnic   of 31646
 
John: TPRO does not have a Moody's or S&P credit rating that I know of. Companies pay major dollars to have those ratings done so they can issue bonds. The better the rating, the lower the interest rate on the bonds or commercial paper. Topro's clients like BMY would commission a credit rating if it wanted to issue bonds or commercial paper to pay for Y2K work. Companies that already had weak financials could find themselves issuing junk bonds if they have to step up to the table to fund massive Y2K fixes. The credit downgrade would make all their other borrowing more expensive also, and could hurt financial performance for many years. Hence, were I a CFO, I'd want keep quiet about Y2K spending for as long as possible, and borrow as much as possible before a Y2K announcement.
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