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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: reaper who wrote (148466)2/4/2002 5:21:42 PM
From: reaper  Read Replies (1) of 436258
 
OK, now makes sense. Tyco downgraded by S&P; commercial paper rating to A-3, which means many money funds can't own it.

Into the abyss....

3:53PM Tyco rating cut details (TYC) 29.30 -7.57: -- Update -- S&P downgrades of co's ratings sends stock plunging to a fresh intraday low. According to Reuters, S&P cut its rating on Tyco's senior unsecured debt rating three notches to "BBB," an investment grade two notches above junk status, from "A," and its commercial paper rating two notches to "A-3," one notch above junk, from "A-1."

3:28PM Tyco Intl ratings cut by S&P (TYC) 31.96 -4.91:

Cheers
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