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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: Bob Zacks who wrote (1147)	1/16/1998 12:24:00 AM
From: Bexar	Read Replies (1) \| Respond to of 29970

Brought to you by the ATHM Hyper Typer and ... with a question: *Where is this going?* Reuters, Thursday, January 15, 1998 at 16:21 (Press release provided by Moody's Investors Service) NEW YORK, Jan 15 - Moody's confirmed the credit ratings of TCI Communications, Inc. (Ba1 senior unsecured), Comcast Corporation (NASDAQ:CMCSA) (Ba1 senior unsecured), and Cox Communications, Inc. (Baa2 senior unsecured) following the announcement that AT&T Corporation will acquire Teleport Communications Group in a stock swap transaction valued at about $12 billion based on AT&T's current stock price. TCI Communications' affiliate TCI Ventures Group LLC, Comcast, and Cox together own about 60% of Teleport and will receive AT&T shares valued at over $6 billion. The confirmation reflects Moody's expectation that the net proceeds will not generate any substantial alteration of any of the rated cable companies' financial and operating strategies including their ongoing capital expenditure programs, potential acquisitions, stock repurchases, debt reduction and other asset dispositions. However, the proceeds will provide the companies with added financial flexibility and capital cushion to permit multiple initiatives in a more compressed time frame. Moody's anticipates that the use of proceeds by Comcast and Cox will include some debt reduction, but that leverage ratios will likely remain within ranges consistent with existing ratings. Repurchases of stock by Comcast is also likely, and each of the companies will continue to be opportunistic investors and acquirers of programming, telecommunications and cable systems. But these strategic initiatives are already incorporated in current ratings. TCI Communications will not be the direct recipient of the AT&T shares when the stock swap occurs since the Teleport shares are owned by its affiliate, TCI Ventures Group LLC. TCI Ventures Group LLC is wholly owned by TCI Communications' parent company Tele-Communications, Inc. The rating outlook for TCI Communications remains positive, and the outlook for both Comcast and Cox remains stable. TCI Communications, Inc., with its headquarters in Englewood, Colorado, is the largest U.S. operator of cable television systems. Comcast Corporation, with its headquarters in Philadelphia, Pennsylvania, is a major cable television system operator, owns and operates cable television programming, and is a provider of cellular telephone services. Cox Communications, Inc., with its headquarters in Atlanta, Georgia, is a broadband communications company with operations and investments in United States and international cable television systems, programming, and telecommunications and technology. Copyright 1998, Reuters News Service *P.S. I'm starting to feel like the sharks are swimming around us* P.S.S. or P.P.S. or whatever... I still have a heavy interrest in ATHM, but missed the last fire sale (Our business "PC" has picked up big time). Anyone see this ever hitting 20 again?