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Politics : Formerly About Applied Materials

AMAT 223.95

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To: Ian@SI who wrote (31948)	8/16/1999 11:45:00 AM
From: Duker	Read Replies (1) of 70976

OTClassic Value-Added Call: Monday August 16, 10:15 am Eastern Time RESEARCH ALERT - Iridium downgraded** NEW YORK, Aug 16 (Reuters) - Lehman Brothers said Monday it cut its rating on satellite telecommunications company Iridium LLC to neutral from buy. -- Further details were not immediately available. -- The company filed for Chapter 11 bankruptcy protection Friday, two days after it defaulted on more than $1.5 billion in loans.

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