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Gold/Mining/Energy : Mirant Corporation (MIR)
MIR 23.98-1.4%3:06 PM EST
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To: mahler_one who wrote (30)1/18/2002 9:06:20 AM
From: Oeconomicus  Read Replies (2) of 903
 
...they are not a completely disreputable firm.

I didn't say they were. OTOH, have they articulated a valid reason for downgrading MIR debt?

"Moody's cited Mirant's restricted cash flow ..."

I think Marce answered that pretty well. S&P seems to think cash flow is fine, too. They affirmed their investment grade rating for MIR.

Looks like a "better cover my ass and downgrade the whole damn industry" move to me. As simple-minded as the stock market's "sell 'em all and ask questions later" approach.

Bob
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