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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (15076)	8/6/2002 12:03:11 AM
From: Joan Osland Graffius	Read Replies (1) \| Respond to of 78659

Papaya, I am staying away from debt ridden anything. IMO, there is just to much risk that the corporate debt market gets tighter than it is right now. These folks are paying double digits for credit and no way can they service these kind of costs. I am waiting for BR to break $29 and UCL to break $27. IMO below these prices they should be good for first third positions. I also own 2/3 rds position in TLM preferred A. The credit rating is BBB-. It is the 3rd largest oil company in Canada and is $25 at par with 9% dividends. It is callable Feb of 2004 and generally trades close to par after dividend payout. So far this oil company has had good cash flows to easily cover their debt and continue search for new oil assets. Joan