Son, having a shelf registration does not say anything about your credit worthiness, all it says is you made a filing with the SEC. Worldcom currently has a 3 billion shelf registration. In 1996 this company had eps of 56 cents traded at $7 and traded at .5 sales, the big upswing in dotcoms buying office furniture was on its way. Now the stock has losses, and trades at $17 and 1x sales.
Below baa2 is baa3 below baa3 is ba1, so do you know if there is a put feature or not??
First, try reading all the words in an article, not just the small ones. Moody's announcement of a review notes $125 mil of the 300 is unused debt capacity--says something about the company's credit worthiness in itself. Even were the company to get a downgrade, it's two notches to the good of "investment grade." Shame the rating agencies are busily playing CYA in the glare of a post-Enron world.
As to the broader market, a nice up trend over the past few sessions and suggestions that momentum is building. MLHR up a buck in the same period with today's near full percent on heavier volume--no complaints from the longs, but I'm guessing the shorts are getting increasingly nervous.