MOODY'S SLICES LUCENT'S CREDIT RATING All Editions: Late, Early

While Lucent has been able to build up its liquidity reserves to weather an extended period of unprofitability, the rating agencies expressed surprise at the depth of the current slump. "The rating actions reflect the continuing cutbacks in capital spending plans by Lucent's core customer...

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Bibliographic Details
Published inThe Record (Hackensack, N.J.)
Main Author TOM BARKLEY, DOW JONES NEWS SERVICE
Format Newspaper Article
LanguageEnglish
Published Bergen County, N.J North Jersey Media Group Inc 23.03.2002
Subjects
MURRAY HILL
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Summary:While Lucent has been able to build up its liquidity reserves to weather an extended period of unprofitability, the rating agencies expressed surprise at the depth of the current slump. "The rating actions reflect the continuing cutbacks in capital spending plans by Lucent's core customer base and the expectation that the downturn in demand will be more protracted and deeper than we had previously anticipated," said Moody's.