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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: dougjn who wrote (8104)	9/2/1998 5:15:00 PM
From: SteveG	Respond to of 12468

<..I'm talking about taking on ARTT's financing needs...> WCII alone or with ARTT would likely have little problem getting vendor financing. They also present an attractive package to any other partnering relationship. Besides, ARTT's $$ buildout needs are not a significant percentage of WCIIs cash position. IMO

To: dougjn who wrote (8104)	9/2/1998 5:46:00 PM
From: Bernard Levy	Read Replies (1) \| Respond to of 12468

Hi Doug: There is some truth to what you say, but ARTT has $200M in vendor financing from LU which could not be triggered because ARTT could not place its junk bond debt. LU has since extended a more limited line of credit. I am virtually certain that WCII could get the entire vendor equipment credit from LU without raising any additional junk bond debt. However, as many on this thread have indicated in the past, the ideal would be for WCII to sell a 25% stake in the company to a big player, such as FON, since this would immediately raise the credit rating of Winstar (this is the one big advantage enjoyed by TGNT with its NTT stake). Best regards, Bernard Levy