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Author: charliebonds Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35345  
Subject: Re: EMZ - liquidity now Date: 4/21/2011 5:44 PM
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AJ,

Setting aside for now how each of us characterizes the supposed interest paid (with you equating an "interest credit" as the same as interest actually paid and received), you still fail to answer my question as to why you represented these bonds as having an A- rating when, clearly, they have a BBB+ rating. Why did you wan to put a falsely positive spin on them?

S&P says A-, and Moody's says BBB+. So clearly, the bonds are "split-rated", though it would have to be determined from independent credit- analysis which, if either, might be closer to the truth.

That fact they are 1st mortgage bonds might offer would-be buyers a bit of safety, but that, too, would have to be determined from examination of their financial statements. (A 1st mortgage on a negative net-worth is a very worthless lien.)

As I see this situation, you are touting what is likely to prove to be a piece of trash for as yet unknown reasons.

Have a nice day.
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