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To: RMF who wrote (5523)1/9/1998 7:06:00 PM
From: Abner Hosmer  Read Replies (1) | Respond to of 116753
 
Micap - It sounds like banks engaged in a lot of short-term lending in the region in a bid to capture profits while limiting the duration of their risk. Now it looks like they will have to continue to rollover the debt until it can be repaid.

''These rollovers are a default in the way we define it,'' said Vicent Truglia, managing director at Moody's. ''The definition forces our hand.''

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