How is it that CHK, a flaky outfit, losing money with serious management problems, in is able refi at low rates:
$500 million @ 3.25% due in 2016
$700 million @ 5.375% due in 2021
$1.1 billion @ 5.75% due in 2023
Thereby saving it a sizable amount of interest.
While, in the same ultra-low interest environment), FTR has to pay more on its new bonds than on the debt it's replacing, thereby costing it more interest?
More evidence, no matter what its ratings, FTR remains the red-headed step-child that the street just doesn't like.
Today back in its "normal" mode, averages up FTR down.