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Technology Stocks : (LVLT) - Level 3 Communications

LVLT 53.63

0.0%

Nov 1 5:00 PM EST

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From: bob zagorin	2/6/2007 9:32:21 AM
	of 3873

excerpt from wsj article on bond risk "...The bond boom has been a blessing for companies like fiber-optic network operator Level 3 Communications Inc. In October, its financing unit issued $600 million in bonds with an interest rate of 9.25%. That was much lower than the 12.25% rate it agreed to pay on $250 million in bonds just seven months earlier, according to data from Standard & Poor's Leveraged Commentary and Data group. For every $100 million it borrowed, its interest costs effectively fell by almost $3 million a year. Level 3 bonds are rated CCC-minus by S&P, meaning they are below investment grade -- or junk -- and the ratings service sees the company as among the most likely to default...." fwiw i sold all my lvlt at 6.60 a couple weeks ago. may trade it but i just don't have the same confidence. the debt is an issue and i also saw a GS brief that had a $5 target expecting a possible q where they charge off...

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