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Non-Tech : Tyco International Limited (TYC)
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To: GVTucker who wrote (3213)4/26/2002 11:07:41 AM
From: biostruggle  Read Replies (1) of 3770
 
More losses on the way. If TYC can get 7 bill for CIT in fire sale, will result in 4 billion dollar loss. CIT carrying value on books is 11 billion. Even if TYCO uses half proceeds for debt reduction, the net effect of transaction will e a worse debt/equity position. That is why Moody's has already downgraded and still has Tyco on revaluation for potential downward revision.

TYCOM = Globalcrossing. Look for more write downs there.
TYCO still dumping 200 milion a quarter into this loser.
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