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Technology Stocks : Source Media SRCM
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To: RockyBalboa who wrote (2776)8/27/1999 9:29:00 AM
From: M. Dion  Read Replies (1) of 3015
 
Moodys cuts rating on this one.......Moodys certainly has more knowledge of the fundamentals than i do.....I am selling this morning.....I dont like the smell of this one.....mike

Here is what they wrote>>>>>>"The lower ratings reflect Source Media's significant leverage, poor operating performance and rapidly deteriorating credit profile; liquidity concerns regarding the company's ability to meet cash interest payments due on its senior secured notes after November 1999, when the company's escrow account has been depleted; and resultant expectations of diminished recovery prospects for the company's creditors."
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