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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: kollmhn who wrote (13490)	4/25/2002 10:35:59 AM
From: kodiak_bull	Read Replies (1) \| Respond to of 23153

K-man: I haven't been following Adelphia, but recall that they were cooking the books by keeping a lot of debt off balance sheet, a story which surfaced recently (now, why does THAT sound so familiar?). $2.3 billion in debt which didn't make it to the balance sheet, SEC action, Naz delisting procedures--vot's not to like? Actually, the technical chart is looking pretty (short term) positive stockcharts.com[h,a]dhclyyay[pb10!b50!b200!f][vc60][iut!Lk14!Lb14!Ld20!Lc3!Lf!Lh14,3!La12,26,9]&pref=G I could see a recovery to the 8-ish levels. However, here's the latest news, junk just got junkier: Reuters Business S&P cuts Adelphia Communications ratings to CCC-plus NEW YORK, April 22 (Reuters) - Standard & Poor's Corp. on Monday cut its ratings for cable television operator Adelphia Communications Corp. (Nasdaq:ADLAE - news) deeper into junk territory, saying the company's delay in filing its annual report worsens its already weakened financial profile. S&P cut Adelphia's ratings to ``CCC-plus,'' from ``BB-minus'' and said it may cut the ratings again. ``Adelphia missed filing its 10K within the 15-day extension from the SEC, and we do not know when the 10K will be filed,'' S&P credit analyst Richard Siderman said. ``As a result of missing this deadline, the company jeopardizes its ability to sell publicly registered securities as well as maintain the listing of its equity securities on the NASDAQ.'' Adelphia, the No. 6 U..S. cable TV operator, said last week it had been notified by the Nasdaq exchange that its stock is subject to delisting for not filing its annual report, or 10-K, on time. If the delayed 10K filing, a pending investigation by the Securities and Exchange Commission, or other events lead to violations of bond covenants, ratings could be lowered again, S&P said.