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Technology Stocks : Zenith - One and Only

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To: Scott Lerner who wrote (3717)	12/23/1997 11:42:00 AM
From: eric larson	Read Replies (1) of 6570

NEW YORK, Dec. 23 /PRNewswire/ -- Standard & Poor's lowered its corporate credit rating on Zenith Electronics Corp. to single-'B' from single-'B'-plus and its rating on the company's $115 convertible subordinated debentures to triple-'C'-plus from single-'B'-minus. The outlook is revised to negative from stable. LG Electronics Inc.'s has a 57% ownership stake in Zenith Electronics. The downgrade reflects Standard & Poor's view that, LG remains supportive of Zenith, but that its ability to do so is reduced due to the deteriorating economic situation in Korea. Although LG has guaranteed a new credit facility for Zenith, companies in the top chaebol are no longer immune to refinancing difficulties. Full Story: newsalert.com

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