The #2 teleco
WorldCom's debt was slashed to "junk" levels by Moody's and Fitch, as the telecom company's banks asked that it put up collateral to secure $5 billion it is seeking in credit lines. The three-notch downgrade raised speculation the firm eventually will have to file for bankruptcy-court protection. [Wall Street Journal]
Buy from each other, account for it differently!
SEC Probes Global Crossing Swaps [Wall Street Journal]
© Copyright 2002 Steve Pilgrim.
