Toronto (CP)
Moody's international bond rating service, on news that Hollinger Inc. may be forced to default on some of it's outstanding debt, today downgraded the status of Hollinger bonds to "String Conrad Black up by his balls."
The unprecedented move was hailed by critics of Black who insist that he has been thumbing his nose at investors and shareholders of his vast Hollinger empire for far too long.
Earlier in the day, TD Capital had downgraded the status of Hollinger bonds to "Junk" clearing the way for Moody's to take a much stronger stance.
"My Mother owns Hollinger stock," one Moody's bond analyst was quoted as saying. "What's he going to do? Give her a dozen pages of FDR's diaries?"
The Canadian Securities and Exchange commission was reportedly still debating the legality of Moody's reccomendations. It is expected to report early tomorrow.
Moody's international bond rating service, on news that Hollinger Inc. may be forced to default on some of it's outstanding debt, today downgraded the status of Hollinger bonds to "String Conrad Black up by his balls."
The unprecedented move was hailed by critics of Black who insist that he has been thumbing his nose at investors and shareholders of his vast Hollinger empire for far too long.
Earlier in the day, TD Capital had downgraded the status of Hollinger bonds to "Junk" clearing the way for Moody's to take a much stronger stance.
"My Mother owns Hollinger stock," one Moody's bond analyst was quoted as saying. "What's he going to do? Give her a dozen pages of FDR's diaries?"
The Canadian Securities and Exchange commission was reportedly still debating the legality of Moody's reccomendations. It is expected to report early tomorrow.
posted by Jason Allen at 6:26 PM
0 Comments:
Post a Comment
<< Home