S&P cuts Leucadia debt ratings to junk (Reuters)


Recently...

  •  Stock Market Alert's Stocks to Watch! April 5, 2006
  •  Upcoming Beckman Coulter Investor Events in 2006
  •  MannKind to Webcast Investor Day Presentations
  •  Save the World Air Retains CCG Investor Relations
  •  Spectrem Affluent Investor Index(TM) Falls 3 Points in March to 10 -- First Decline Since October 2005
  •  NewMarket Technology Inc. Changes Conference Call Phone Number to Accommodate Significant Increase in Investor Interest
  •  PC World Magazine Calls AirDefense Personal Indispensible
  •  Epicor(R) Reports Preliminary Fourth Quarter and Fiscal Year 2005 Earnings
  •  ActivIdentity Appoints Mark J. Lustig as Chief Financial Officer
  •  Jones Lang LaSalle Reports Record Earnings; 2005 Net Income of $104 Million, $3.12 Per Share
Archive

  •  April 2006
  •  February 2006
  •  December 2005
  •  November 2005
  •  March 2005
  •  January 2005
  •  October 2004
  •  September 2004
  •  August 2004


RSS Feed
  NEW YORK, Aug 18 (Reuters) - Standard & Poor's cut Leucadia National Corp.'s (NYSE:LUK - News) debt ratings to junk status on Wednesday, citing the investment company's increased appetite for high-risk telecommunications assets.

Leucadia on Tuesday said it had bought a 4.96 percent stake in MCI Inc. (NasdaqNM:MCIP - News), the U.S. long distance company that emerged from bankruptcy in April. Leucadia said last month that it had sought government approval to buy up to 50 percent of MCI. The investment company already has a significant stake in WilTel Communications group, S&P said.

S&P cut Leucadia's long-term counterparty credit rating to "BB," the second highest junk rating, from "BBB-minus," the lowest investment grade rating. Counterparty credit ratings apply to transactions like derivatives trades
Source: Reuters


All trademarks and copyrighted information contained herein are the property of their respective owners.




Home   •   Copyright © 2008   •   All rights reserved   •   Financial Information   •   Thursday, November 20 th 2008