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Technology Stocks : The *NEW* Frank Coluccio Technology Forum

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To: ftth who started this subject	3/10/2002 7:15:12 PM
From: Raymond Duray	Read Replies (1) of 46821

Qwest News: americasnetwork.com <Snip> Qwest: Ready for the junk heap? Qwest Communications has seen better weeks. Monday, it was reported that the RBOC could go into default on its debts by the second quarter. Tuesday, Moody’s rating agency cut Qwest to one notch above "junk" status. Last month both Standard & Poor’s and Moody’s downgraded the company’s credit rating. Wednesday, Qwest scheduled an investors’ conference call on short notice, during which CEO Joe Nacchio reassured investors on both issues. "There is lots of speculation…most of it incorrect," he said. On the loan issue, Nacchio said that Qwest is in advanced negotiations with its major banks under the credit facilities. "It has made significant progress on the major terms of a proposed amendment to its $4 billion credit facility. Qwest plans to discuss the proposed amendment with the other banks under the credit facility over the next several days and then seek formal approval." <Continues.....>

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