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Corrections Corporation of America Message Board

  • oraclenotomaha oraclenotomaha Jul 10, 2000 2:07 PM Flag

    TOO MUCH DEBT!

    I am no longer a stockholder of PZN. Got out for
    a small loss when the Pacific Life deal was
    announced, but continue to follow this message board. If you
    plan to continue to hold, you really should look at
    the amount of cash needed to service debt. Interest
    expense last quarter was almost $32million. Since then,
    rates have been increased and fees added. Loan
    covenants were amended subject to the PL deal going thru.
    With that deal dead, there will probably be another
    round of rate increases. I fear gravity has this
    company, and we all know gravity sucks! Best of luck, hope
    a miracle happens for the longs.