Create an Account
username: password:
  MemeStreams Logo

MemeStreams Discussion


This page contains all of the posts and discussion on MemeStreams referencing the following web page: Bankruptcy Concerns Sink Adelphia's Bonds. You can find discussions on MemeStreams as you surf the web, even if you aren't a MemeStreams member, using the Threads Bookmarklet.

Bankruptcy Concerns Sink Adelphia's Bonds
by Jeremy at 6:09 am EDT, Jun 16, 2002

Adelphia's bonds have fallen to trade at less than half their face value, as investors grow convinced the embattled cable TV provider could be worth even less in a bankruptcy than they had previously thought.

And analysts believe a bankruptcy filing could be near.

As Adelphia shares, once worth $87, trade for pennies, the bonds have lost nearly one-third of their value this week, after the No. 6 US cable TV operator on Monday said it overstated cash flow by nearly 15% for each of the last two years -- by $210 million in 2001 and $160 million in 2000.

Analyst: "The bond prices mean bankruptcy is imminent."

Powered By Industrial Memetics