Business Services Industry
Tulsa World, Okla., Business Briefs Column.
Knight Ridder/Tribune Business News, April, 2002
Tulsa World, Okla. Knight Ridder/Tribune Business News
Apr. 3--FITCH RATINGS DOWNGRADES WILLIAMS COMMUNICATIONS: Williams Communications Group Inc.'s debt and convertible preferred stock ratings were downgraded Tuesday by Fitch Ratings.
Fitch, the Chicago-based debt rating service, downgraded Williams Communications' senior unsecured rating to "D" from "CC" and its convertible preferred stock to "D" from "C." The rating of Williams Communications' senior secured credit facility also has been downgraded to "C" from "CCC-." The senior secured credit facility remains on Rating Watch Negative.
Fitch said the downgrading is consistent with the Tulsa-based company's announcement that it will take advantage of a 30-day grace period on the interest...
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