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Non-Tech : Tyco International Limited (TYC) -- Ignore unavailable to you. Want to Upgrade?

To: Terrapin who wrote (2897)2/11/2002 10:08:58 PM
From: P. Ramamoorthy  Respond to of 3770
 
I do not see it a negative if TYC taps their credit line as they could not use their commercial paper due to the downgrade. Why the downgrade? All those negatives news, Enronitis, and the stock price plunge. For TYC, it was a question of managing their debt and the cost of managing it. As long as the bank is earning their interest on TYC loans, why complain? Focus on the asset sale and the spin off. Like to see how fast TYC moves in this direction. Ram



To: Terrapin who wrote (2897)2/12/2002 1:02:09 AM
From: blankmind  Read Replies (1) | Respond to of 3770
 
couldn't have said it better:

It is a positive in that it provides all the necessary liquidity for the time it will take to execute Tyco's debt-reduction plan. It frees them from the nervousness in the bond market; the nervousness that dissipated within a few days anyway.

It was an unusual step taken in unusual times.


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