Thu, Jul 24, 2014, 12:01 AM EDT - U.S. Markets open in 9 hrs 29 mins

Recent

% | $
Click the to save as a favorite.

Corrections Corporation of America Message Board

  • mcprison mcprison Jun 23, 2000 12:32 PM Flag

    PZN preferred rating lowered

    The Tennessean

    June 22, 2000, Thursday
    CITY EDITION

    SECTION: BUSINESS, Pg. 5E, TN
    STOCK

    LENGTH: 249 words

    HEADLINE: PRISON
    REALTY TRUST STOCK RATING LOWERED

    BYLINE: GETAHN
    WARD STAFF WRITER AND BLOOMBERG NEWS

    BODY:



    Moody's yesterday lowered its ratings of $
    100 million of outstanding
    preferred stock in
    Nashville-based Prison Realty Trust amid a high probability

    the company won't pay a preferred dividend next
    month.

    A recent agreement that waived defaults and
    amended Prison Realty's bank
    credit line restricts
    the owner of prisons from paying preferred dividends
    until
    the company raises about $ 100 million.


    That means dividends expected to be declared on Prison
    Realty's preferred
    stock next

    month won't get
    paid until the company completes a restructuring.
    The
    cumulative dividends, however, still could be
    paid at a later date.

    Besides downgrading
    ratings of Prison Realty's preferred stock by
    one-notch,
    the ratings service also lowered ratings of
    preferred stock the company could
    issue from a shelf.
    Moody's said the ratings remain under review, where
    they
    were placed on Jan. 12, and could be downgraded
    further.

    Prison Realty's preferred shares yesterday
    closed at $ 9.13, down 25 cents.
    Its common shares
    yesterday were unchanged at $ 3.19.

    Tractor Supply
    Co. said this week it expects to see "modestly
    lower"
    same-store sales in the second quarter, in part
    because of a decline in
    big-ticket items.


    Same-store sales excludes locations opened for less than a
    year.

    Tractor Supply said it expects
    second-quarter profits of about $ 1.20 a
    share, matching
    estimates.

    Shares of the Nashville-based operator of a
    retail farm store chain yesterday
    rose 13 cents to $
    13.88.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
 
CXW
33.38+0.29(+0.88%)Jul 23 4:01 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.