Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : C-Cube -- Ignore unavailable to you. Want to Upgrade?

To: Don Dorsey who wrote (39341)	3/19/1999 1:51:00 PM
From: DiViT	Read Replies (1) \| Respond to of 50808

Ratings raised on Cube converts.. $23mil left out of the original $86mil C-Cube Microsystems/Moody's -2: Ratings Outlk Stable >CUBE 03/19/99 Capital Markets Report (Copyright (c) 1999, Dow Jones & Company, Inc.) NEW YORK (Dow Jones)--Moody's Investors Service said it raised the rating to B2 from B3 on C-Cube Microsystems Inc.'s outstanding $23 million 5-7/8% convertible subordinated notes, due 2005, originally issued in the amount of $86 million. About $23 million of debt securities are affected, Moody's said. The senior implied rating on the company was raised to Ba3 from B2, Moody's said. The convertibles, which are currently subject to redemption at a price of 104.1125, may be converted at any time into shares of common stock at $30.70 per share, Moody's said. The company's rating outlook is stable, the rating agency said. Moody's said the upgrade "reflects C - Cube 's leadership in video compression technology; the extreme complexity of this technology, currently posing a barrier to software solutions that efficiently utilize microprocessor capacity as well as the incorporation of similar functionality into the microprocessor itself; the emerging video transmission market; and the company's substantial debt reduction through open market purchases of its convertibles in FY1998Q2 and FY1998Q3." (END) Dow Jones Newswires 03-19-99