The company is still profitable and the shares are a risky but attractive option on the financial viability of the firm. Some of the debt is trading at 50 cents on the dollar for yields of 25%, which may make the bonds a safer play than the shares. But the company is far from dead and expects $475-$525M in FCF this year. No debt matures before 2010. [Barron's]
Monday, August 18, 2008
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