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Technology Stocks : PCW - Pacific Century CyberWorks Limited
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To: ms.smartest.person who wrote (1500)6/28/2001 11:52:09 PM
From: ms.smartest.person  Read Replies (1) of 2248
 
S&P, Moody's to Rate PCCW Bonds Next Week: Ming Pao
Jun 29, 2001 - 09:59:19 HKT
Quamnet News Service
Two credit rating agencies, Standard and Poor's and Moody's, will assign ratings on Pacific Century CyberWorks' (0008) proposed bond issue on the same day next week, the Ming Pao Daily News reported, without naming sources. According to market rumors, S&P would assign a BBB rating on PCCW's bonds -- a rating that usually requires issuers to pay an interest rate of 200 basis points above the U.S. Treasury Bond rate, the paper said, though PCCW's intention is to get a rate of 130 basis points above the Treasury Bond rate.

PCCW plans to issue HK$3 billion to HK$4 billion worth of bonds to repay its US$4.7 billion syndicated loans, the paper said, citing market rumors.
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