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Regional & National

Charter debt swap or bankruptcy said possible

December 22nd, 2008 12:00 am by Staff Report

According to a report in the Asheville Citizen-Times, Charter Communications may either swap some of its debt for equity positions in the company or declare bankruptcy.  bond rating agency Fitch Ratings said Thursday.

Fitch Ratings  placed $21.1 billion of Charter debt on a negative ratings watch, meaning there is a good possibility it will downgrade ratings, already at “junk” bond levels.

The company said last week that it had asked its financial advisor to begin “discussions with bondholders about financial alternatives to improve the company’s balance sheet.”

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