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Technology Stocks : Allegiance Telecom (ALGX) -- Ignore unavailable to you. Want to Upgrade?

To: FlameMe who wrote (118)	11/28/2002 3:45:40 AM
From: Dale Baker	Read Replies (1) \| Respond to of 145

Looks like ALGX bought five months of breathing space; the PR on the debt extension sounds a lot like they will issue more equity then to retire some debt. Current shareholders will end up in a weaker position than before (ALGX can't sell bonds now so inevitable it will be preferred debt of some sort, probably a convertible). If they make it through next year without totally collapsing, ALGX will be worth another look. TWTC also shot up yesterday but their balance sheet is in excellent shape.