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Technology Stocks : Loral Space & Communications

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To: Don Limb who started this subject	7/25/2003 8:38:09 PM
From: blockhead	Read Replies (1) of 10852

So who is speculating on outcome? Once the Intelsat deal goes through, LOR has 1.1B to do what they'd like to do, which is retire debt. I'm sure the banks and other debt holders will be pretty happy to get something out of that. LOR still does have dwindling backlog at FSS and SS/L, still will have 6 sats (including ChinaSat8 ha ha he he). This means revenue (excepting C-sat). Additionally, they might even win a sat contract. They did recently win a $105M contract at SS/L, which isn't chump change. I thought that most of the big lump sum debt payments had been re-negotiated out to 2005? I also thought that LOR was still able to service the debt - barely. What am I missing here? Why would Intelsat require a Chap 11 as a precondition to the sale?

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