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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: Dan B. who wrote (1677)9/3/1999 8:43:00 PM
From: J Gunn  Read Replies (2) of 15615
 
Standard & Poor's opinion of stock buy-back, positive and negative: The article found at MSN Investor also stated that the buy-back would impact GBLX's ability for further acquisitions. HMMMM! Further growth or support stock price.

Article quoted below:
Standard & Poor's expects Global Crossing to continue its aggressive strategy of network growth in the U.S. and overseas. Nevertheless, if the company exercises its right to use all or most of the $500 million to repurchase stock, it will have utilized most of its debt capacity at the current rating, Standard & Poor's said.

RATINGS AFFIRMED

RATING Global Crossing Ltd.

Corporate credit rating BB+/Stable/--

Senior unsecured debt BB Global Crossing Holdings Ltd.

Corporate credit rating BB+/Stable/-- Preferred stock B+ $3 billion secured bank credit facility BBB- Senior unsecured debt

(Guaranteed: Global Crossing Ltd.) BB Frontier Corp.

Corporate credit rating BB+/Stable/B Senior unsecured debt BB Preferred stock B+ Commercial paper B Preliminary subordinated debt BB- Preliminary senior unsecured debt BB

Preliminary preferred stock B+ Frontier Telephone of Rochester Inc.

Corporate credit rating BBB/Stable/A-2 Senior unsecured debt BBB Commercial paper A-2

REUTERS
Following are Reuters Alerts related to this article

ALERT
S&P AFFIRMS FRONTIER CORP CREDIT, DEBT RATINGS
REUTERS

ALERT
S&P AFFIRMS GLOBAL CROSSING LTD CREDIT, DEBT RATINGS
REUTERS
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