Die nächste Riesenpleite vor der Tür: K-Mart mL

verfasst von Rumpelstilzchen, 12.01.2002, 17:20

Oops, wieder ein paar Milliarden weniger:

Zunächst einmal die Schulden:

K-Markt 4,7 MRD $ Schulden nur noch junk



Quelle: http://www.forbes.com/newswire/2002/01/11/rtr478227.html

UPDATE 1-Kmart"junk" rated debt cut 3 notches by Moody's
Reuters, 01.11.02, 6:36 PM ET


NEW YORK, Jan 11 (Reuters) - Kmart Corp.'s (nyse: KM - news - people) debt ratings were cut late Friday by Moody's Investors Service, which warned another downgrade is possible as the No. 2 U.S. discount retailer falls further behind rivals Wal-Mart Stores Inc. (nyse: WMT - news - people) and Target Corp. (nyse: TGT - news - people).

The downgrade came after U.S. markets closed Friday and after Kmart shares had fallen this week to a 33-year low. Investors have fretted over the company's future, which some analysts said may include a bankruptcy filing. Kmart's shares have fallen 40 percent this year.

Moody's cut Troy, Michigan-based Kmart's senior unsecured debt three notches to"B2," its fifth highest"junk" grade, from"Ba2." It also cut several other Kmart ratings. The downgrades affect $4.7 billion of debt. Borrowing costs usually rise as ratings fall.

The rating agency said it has"uncertainty about the prospects of Kmart's franchise longer term and the traction of its turnaround strategy."

Kmart said Thursday its earnings for the fiscal year ending this month will fall short of Wall Street estimates. Analysts polled by Thomson Financial/First Call expected earnings of 1 cent per share.

The retailer also said it is talking with lenders,"regarding its existing and possible supplemental financing facilities." Moody's warned that new bank debt could push unsecured debt holders farther down Kmart's capital structure.

"What's apt to occur in the short-term is Kmart will obtain a bank line secured by its inventory," said Charles Ronson, a securities analyst for Redwood Brokerage Services in Jersey City, New Jersey."An asset-backed loan could tie it over for at least a couple of quarters."

Moody's said its review for another downgrade will focus on management's plans this year and next and that Kmart may need to close some of its 2,100 stores or raise debt to improve its"still weak supply chain systems and store operations."

Another rating agency, Fitch, Monday cut Kmart's senior unsecured debt to"B-plus," one notch higher tha~úúb unsecured debt to"B-plus," one notch higher tha~úúb

Copyright 2001, Reuters News Service.



Und der Aktienkurs?

Quelle: http://www.forbes.com/markets/stock...wswire/2002/01/11/rtr477563.html

Kmart shares plunge on doubts over retailer's fate
Reuters, 01.11.02, 10:54 AM ET

CHICAGO, Jan 11 (Reuters) - Kmart Corp. (nyse: KM - news - people) shares fell to a more than 30-year low on Friday morning on investor uncertainty over the discount chain's future.

Shares of Kmart were off 56 cents at $3.64, a drop of 13.33 percent, in heavy volume on the New York Stock Exchange. The declines on Friday shaved $260 million, or 12.6 percent, off the company's market capitalization which stood at $2.09 billion on Thursday.

Kmart, which has seen its shares hammered by talk of bankruptcy from Wall Street analysts after weak holiday sales, on Thursday said in a news release it is seeking supplemental financing from lenders and reviewing its current business plan.

The Troy, Michigan-based retailer would not comment beyond the news release, which also said the No. 2 discount chain behind Wal-Mart Stores Inc. (nyse: WMT - news - people) would fall short of Wall Street profit forecasts for fiscal 2001.

"We don't know if they are going to file for bankruptcy protection so they can try to close stores and run a more profitable, smaller company," said Shelly Hale, retail analyst with Banc of America Securities.

"Or we don't know if they're going to get the liquidity they need from their current lending institutions and be able to run the business without having to file for bankruptcy," she said.

Hale said if Kmart gets the financing it needs, the stock will go back up to $6 a share, and if the company files for bankruptcy, it will likely fall to $1 a share.

Copyright 2001, Reuters News Service.

Ein Vergleich
Kurs im August: 12,5 $
Market Cap August: 6230 Million $

Kurs am Freitag 3.30
Market Cap am Freitag: 1,645 Millionen $

Und wo wir gerade beim Milliardenvernichten sind, einen hätt´ ich noch:

Quelle:www.bloomberg.com

Argentina Plans to Force Companies to Default on Debt (Update1)
By David Plumb and John Lyons


Buenos Aires, Jan. 11 (Bloomberg) -- Argentina plans to force companies to default on as much as $35.7 billion of dollar- denominated bonds and loans to keep cash in the country, Vice Economy Minister Jorge Todesca said.

A new central bank rule prohibits domestic companies from buying dollars to pay foreign debts unless they first negotiate with creditors a three-year extension on the maturities of those debts. Lawmakers also are scheduled to consider legislation next week that would halt corporate debt payments for a set period.

The government, which has defaulted on $141 billion of sovereign debt, is turning to companies to help protect scarce foreign reserves after it abandoned the pesos one-to-one peg with the dollar and devalued the currency, analysts said. The peso plunged to as much as 44 percent on the first day exchange houses opened since the government announcement the devaluation.

``These measures, which are far from clear, appear to punish companies that can and want to make debt payments,'' said Siobhan Manning, a sovereign debt analyst at Caboto USA.

Todesca said during a meeting with international journalists that the new central bank rule is a ``limitation that the government has in the short term on sending dollars abroad,'' Central bank and Economy Ministry officials wouldn't disclose further details.

Protecting Reserves

President Eduardo Duhalde, who took office Jan. 1 as the fifth president in Argentina in two weeks, has taken other steps to protect foreign currency and gold reserves, which have fallen to $14.8 billion from $20.6 billion three months ago, to try to keep the peso fixed at a new exchange rate of 1.4 per dollar set on Sunday for bank and trade transactions. The government also has frozen more than a third of the nation's $67 billion of deposits.

The peso fell to as low as 1.8 per dollar at exchange houses, which opened today for the first time since Sunday, and the International Monetary Fund said today the country will be unable to keep a dual exchange rate.

Argentina also will seek $15 billion in new loans from the International Monetary Fund, World Bank and other lenders this year, Todesca said. That includes $9 billion from the IMF and $6 billion from the IDB and World Bank. Argentina is seeking a total of $20 billion of foreign loans, the government said last week.

The restrictions on corporate debt payments ``will clearly be an impediment to talks with the IMF as they question whether these controls are reasonable,'' Manning said.

Private companies' total foreign debt was $35.7 billion, excluding debts held by financial institutions, as of Sept. 30, according to the Economy Ministry.

Argentine oilmaker Pecom Energia SA has $134.2 million of foreign debt due in April this year. Sideco Americana, a construction company owned by Argentine businessman Francisco Macri, has a $125 million payment due in August, and energy concern Tecpetrol Argentina SA owes $20 million in April.

Also noch mal 35 MRD $ Dollar pulverisiert.
Greeny wird Mühe haben, mit dem Drucken nachzukommen, also, husch in den Keller!
Grüße
R.


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• Die nächste Riesenpleite vor der Tür: K-Mart mL - Rumpelstilzchen, 12.01.2002, 17:20
  • Re: Die nächste Riesenpleite vor der Tür: K-Mart mL - Hirscherl, 12.01.2002, 17:40
    • Re: Die nächste Riesenpleite vor der Tür: K-Mart mL - Rumpelstilzchen, 12.01.2002, 18:06
      • Re: Die nächste Riesenpleite vor der Tür: K-Mart mL - XERXES, 12.01.2002, 18:11
      • Re: Die nächste Riesenpleite vor der Tür: K-Mart mL - Tombstone, 12.01.2002, 18:48
    • leider doch vernichtet - Tombstone, 12.01.2002, 18:46
  • Re: Die nächste Riesenpleite vor der Tür: K-Mart mL - Emerald, 12.01.2002, 19:05
    • Re: Die nächste Riesenpleite vor der Tür: K-Mart mL - Oldy, 12.01.2002, 19:55
      • Re: Die nächste Riesenpleite vor der Tür: K-Mart mL - Euklid, 12.01.2002, 20:02
        • Re: Die nächste Riesenpleite vor der Tür: K-Mart mL - Oldy, 12.01.2002, 21:20
          • Re: Zustand der Banken in Mexiko - Dionysos, 12.01.2002, 23:15
    • Re: Die nächste Riesenpleite vor der Tür: K-Mart mL - ManfredZ, 13.01.2002, 15:46