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Technology Stocks : TAVA Technologies (TAVA-NASDAQ)
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To: Captain Jack who wrote (8375)1/6/1998 10:39:00 AM
From: Karl Drobnic  Read Replies (5) of 31646
 
John: Good point about companies with weak financials not wanting to reveal that they are spending on Y2K fixes. If such companies have a Moody's or S&P credit rating, revealing big sums going to Y2K remediation could quickly spark a new rating - "on credit watch with negative implications". That zinger usually results in an immediate hit to the stock price. Also, the company's cost of borrowing funds to do the fixes would rise, further weakening financials. The credit rating is financial hard ball. A downgrade can haunt a company for years. Big companies won't risk a credit downgrade if they are facing heavy borrowing for their Y2K fix, so they will want silence on the PR front.
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