Crash and Burn 2001 Message Board

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Strategies & Market Trends : Crash and Burn 2001

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To: Dale Baker who started this subject	8/20/2001 11:11:04 AM
From: Dale Baker	Read Replies (1) of 207

Sunday August 19, 8:16 pm Eastern Time Moody's expected to downgrade NTL - paper LONDON, Aug 20 (Reuters) - Ratings agency Moody's is expected to downgrade the credit worthiness of Europe's largest cable television operator NTL Inc, the Daily Telegraph reported on Monday. The conclusion of a ratings review could see NTL's high-yield bonds downgraded to C, potentially hiking the cost of future borrowing for the firm, the paper said. Moody's in July said it had placed the debt and preferred stock ratings for NTL under review for possible downgrade, prompted by continued concerns about NTL's debt level. The paper quoted a telecoms analyst at Moody's as saying: ``We expect to make a decision shortly and it is unlikely that we won't see some kind of ratings downgrade.'' Ratings agency Standard & Poor's earlier in July cut NTL's senior unsecured debt rating to B- from B and revised the outlook for the company to stable from positive, expressing concerns about NTL's financial flexibility. S&P said NTL's consolidated debt outstanding on March 31, 2001 was about $15.1 billion.

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