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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: KeepItSimple who wrote (153267)2/25/2002 2:24:52 PM
From: Les H  Read Replies (2) of 436258
 
Borrowing money to improve their income statement

GM said it will use proceeds from its sale of 30-year senior convertible bonds to ``rebuild'' its ``liquidity position,'' reduce underfunded pension liability and fund its post-retirement health care options.

``Completion of this proposed transaction would be a modestly positive development,'' said Scott Sprinzen, managing director of corporate ratings at credit rating agency Standard & Poor's, in a statement. He said it is ``likely'' that GM's credit ratings will not change ``within the next few years.''

biz.yahoo.com
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