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

To: Jurgis Bekepuris who wrote (38406)7/1/2010 2:34:02 PM
From: Grommit  Read Replies (1) | Respond to of 78748
 
FR-pref shares (J&K) -- nope. not today. waiting until they suspend the pref dividends. Aren't these enough warnings?

...threaten its ability to meet some debt covenants.

Fitch also said there is a risk First Industrial could defer its preferred stock dividends, a step that would further underscore its financial flexibility is constrained.

"If the Company is not required to pay preferred stock dividends... it may elect to suspend some or all preferred stock dividends... which would aid compliance with the fixed charge covenant under its line of credit agreement."



To: Jurgis Bekepuris who wrote (38406)7/1/2010 3:54:02 PM
From: E_K_S  Read Replies (1) | Respond to of 78748
 
RE: FR Preferred

Lots of volume on both the K's and J's. This is where I previously picked up my lot in October 2009. It's a 50% retracement from the high to low.

My only concern is all my other preferreds are holding up quite well. So this is specific to FR and the Fitch downgrade. It looks as though some large holder decided to get out of their preferred J's with 4x the volume of the K's.

There could be a pretty good trade setting up here.

EKS


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