Amazon.com, Inc. (AMZN) Message Board

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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 232.08

-0.2%

Dec 29 3:59 PM EST

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To: zebraspot who wrote (3970)	5/5/1998 1:32:00 PM
From: Mark Myword	Read Replies (1) of 164684

>>>> Moody's Investors Service assigned a rating of Caa2 to the $275 million (net proceeds) senior notes<<<< Zebra - at least there is some sanity in this world- Moody's clearly recognizes the highly speculative nature of the AMZN balloon - Caa2 is generous , although a junk rating. I like the part about "proceeds...will be used to fund future losses". Would you buy these bonds ? You gotta be kidding. You get NO interest for five years , then , IF Amazon is still operating , you get cash interest for the next five years , then , if you're really lucky , you get your money back! What a screaming joke. And to make matters worse , they're subject to call in five years , which means Amazon can , if they're still around and it suits them , give you your money back and pay only the accrued interest for the first five years , not the second. It's hard to imagine this being a tempting deal for anybody.

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