To: macavity who wrote (5422 ) 2/5/2002 12:47:58 PM From: John Pitera Read Replies (1) | Respond to So the corporate bond desks are passing around the knowledge that the month of Feb is statistically the worst for spread products.While the Dow industrials managed some gains Tuesday, Tyco's selloff continued following its announcement Monday that it plans to draw down its $5.9 billion bank-credit lines because it is afraid that it may have difficulties gaining access to the short-term debt market. Its shares sank 19% on Tuesday.controversial, or even complex, accounting practices in the wake of the Enron accounting scandal. Some investors have complained that Tyco, which spent close to $50 billion on acquisitions in the past three fiscal years, is so large and complicated that it has become difficult to analyze properly. $8 billion in its past three fiscal years on over 700 acquisitions that were never publicly announced. The announcement raised new questions about its financial disclosures.exposure to Enron was about $1 billion more than it originally stated . Its shares retreated 4.4%.'Whom do you trust?'" said Larry Wachtel , market strategist at Prudential Securities.
