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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?


To: Art Baeckel who wrote (22545)3/6/2002 10:43:40 AM
From: Art Baeckel  Respond to of 22640
 
AND!

+DJ Deutsche Downgrades Telemar To Market Perform From Buy

03/06/2002
Dow Jones News Services
(Copyright © 2002 Dow Jones & Company, Inc.)



(MORE) DOW JONES NEWS 03-06-02

10:31 AM

DJ Deutsche Downgrades Telemar-2:Concerned About Rising Debt



NEW YORK (Dow Jones)--Deutsche Bank's equity research department has slashed its recommendation on Brazilian
telecommunications company Tele Norte Leste Participacoes SA (TNE), or Telemar, to market perform from buy.

In a report released Wednesday, Deutsche Bank cited concerns about the company's operational outlook and rising net debt.

Telemar said Tuesday it projects net debt will rise about 30%, and pointed out that cash costs in 2002 will result from it
carrying over financing of economic investments made in 2001.



-By Sonja Ryst, Dow Jones Newswires; 201-938-2245; sonja.ryst@dowjones.com



(END) DOW JONES NEWS 03-06-02

10:39 AM