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Biotech / Medical : Elan Corporation, plc (ELN)
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To: scaram(o)uche who wrote (3560)11/14/2002 3:29:48 PM
From: Icebrg  Read Replies (4) of 10345
 
>> Moody's is out. Elan's senior debt has been downgraded from B2 to FaaaRT.>>

I think Armen should send a Thank You Letter to Moody's. The downgrade should make purchases of LYONs easier to achieve.

I was getting worried that the success Elan has seen so far in implementing the divestiture program might cause the bonds to increase in price. Let's hope that they have their funds from Enzon soon, so that they may start their repurchasing program.

Erik
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