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Strategies & Market Trends : Value Investing

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From: Paul Senior	2/19/2009 7:51:02 PM
	Read Replies (2) of 78748

Allied Capital defaults on credit facility. reuters.com So sad to see the apparent demise of this once great company. (So many years of distributions and gains) I guess the really sad part is that there will be, or are, so many other companies facing similar issues as ALD. I have held a few shares of the notes ([t]AFC[/t]) nyse.com Yield now at about 33%, so priced for bk, I presume. Not sure what I will do. Too complex a situation for me to evaluate. Perhaps a binary future event -- triple or more on AFC if the company survives. Maybe near zero if bk. Or perhaps there is enough value in assets in bankruptcy for some return of capital. Anyone here following this one with an opinion to share on it?

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