Comments on: A Conversation with OurStory http://staging.blog.biakelsey.com/index.php/2006/07/07/A-Conversation-with-OurStory/ LOCAL MEDIA WATCH. The Nexus of All Things Local Mon, 01 Jun 2015 22:23:47 +0000 hourly 1 https://wordpress.org/?v=4.2.39 By: tony http://staging.blog.biakelsey.com/index.php/2006/07/07/A-Conversation-with-OurStory/comment-page-1/#comment-2069 Mon, 10 Jul 2006 00:00:00 +0000 #comment-2069 Bank of America analyst Glen Taksler agrees that under the current proposal the swaps are likely to split, which would result in average swap spreads moving significantly wider than current levels.

"Although the tax basis remains uncertain, general market consensus is that Verizon Directories would need to issue more than $6 billion in debt (the 25 percent threshold), still causing CDS to split," Taksler said in a report sent on Monday.

In light of the leverage the directories business is likely to have, market participants expect the entity would be rated in "junk" territory

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