Nortel Networks (NT) Message Board

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Technology Stocks : Nortel Networks (NT)

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To: Kenneth E. Phillipps who wrote (9847)	2/16/2001 1:53:25 PM
From: Bosco	of 14638

Hi Ken & all - at least the 2 major debt rating services are unmoved by the turn of events biz.yahoo.com Friday February 16, 1:45 pm Eastern Time S&P comments on Nortel Networks (UPDATE: Press release provided by Standard & Poor's) NEW YORK, Feb 16 - Currency Corporate Credit Rating: A/Stable/-- Foreign Currency Corporate Credit Rating: A/Stable/A-1 Standard & Poor's today said that Nortel Networks Ltd.'s announcement of new guidelines for its financial performance for fiscal 2001 does not affect the ratings or the stable outlook on the company. Nortel now expects that the slowdown in the U.S. economy will be more severe than expected, resulting in slower overall market growth and demand for their products. The company will be intensifying its initiatives in optimizing profitability and streamlining of operations that are considered noncore. Despite the reduction in demand, Nortel retains its strong market position as a leading internet solutions provider, particularly in the optical network and access business, combined with an increased geographic and product diversification and a strong financial position. best, Bosco

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