IDB Communications Group Inc has managed to hang on to its Ba2 rating held by Moody’s Investors Service Inc on its $170m of convertible subordinated notes. Moody’s said it is monitoring the dispute between IDB and its auditors, Deloitte & Touche but adds that the possible restatement of the first quarter 1994 earnings is expected […]
IDB Communications Group Inc has managed to hang on to its Ba2 rating held by Moody’s Investors Service Inc on its $170m of convertible subordinated notes. Moody’s said it is monitoring the dispute between IDB and its auditors, Deloitte & Touche but adds that the possible restatement of the first quarter 1994 earnings is expected to have a limited impact on fiscal 1994 debt coverage measures. Its credit quality and financial condition continues to be supported by healthy core business units, it said.
