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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: miklosh who wrote (38721)12/9/1998 10:34:00 AM
From: Knighty Tin  Respond to of 132070
 
Mik, The drillers are always overleveraged. That is one reason it is such a volatile group. But most of this debt just repays bank debt permanently at a lower rate, so it isn't all bad. And there is no question that Falcon cannot build multi-million dollar submersibles and other rigs without borrowing money. But they borrow the money when they have contracts, so I find it encouraging in some ways.

MB


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