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For your consideration - tlps


Posted: Jan 29, 2014

I've read several posts over the past week or two, so some of you must be reading the same articles I have.  Last summer, I read that JP Morgan was going to let One Equity Partners go it alone and no longer back them financially.  Shortly there after another article eluded to the fact that MModal was a cash drain and carried a heavy debt (buyout debt).  We have already restructured several times in the recent past.  Our new CEO has a background in debt management.  About two weeks ago (Jan 14 I think), two articles were posted, one in the WSJ and one in the Dowjones.  I have posted both links below.  The article in the Dowjones can be read if you sign up for a free trial.  The one in the WSJ you have to purchase a subscription to read, but I posted that link anyway.   Last April MM had their credit downgraded  (third link which is free).  We all know the company has seen better days, but since the company went private it is difficult to find anything regarding their financial status.  In my opinion, once JP Morgan pulls out.....I probably shouldn't finish that sentence, but I recommend you read the articles and form your own opinion.


http://pevc.dowjones.com/article?an=DJFLBO0020140114ea1eqm0fr&from=alert&pid=15&ReturnUrl=http%3a%2f%2fpevc.dowjones.com%2farticle%3fan%3dDJFLBO0020140114ea1eqm0fr%26from%3dalert%26pid%3d15

http://online.wsj.com/news/articles/SB10001424052702304549504579321003515817962

https://www.moodys.com/research/Moodys-Downgrades-MModal-CFR-to-B3-Outlook-Negative--PR_270746

I've read several posts over the past week or two, so some of you must be reading the same articles I have.  Last summer, I read that JP Morgan was going to let One Equity Partners go it alone and no longer back them financially.  Shortly there after another article eluded to the fact that MModal was a cash drain and carried a heavy debt (buyout debt).  We have already restructured several times in the recent past.  Our new CEO has a background in debt management.  About two weeks ago (Jan 14 I think), two articles were posted, one in the WSJ and one in the Dowjones.  I have posted both links below.  The article in the Dowjones can be read if you sign up for a free trial.  The one in the WSJ you have to purchase a subscription to read, but I posted that link anyway.   Last April MM had their credit downgraded  (third link which is free).  We all know the company has seen better days, but since the company went private it is difficult to find anything regarding their financial status.  In my opinion, once JP Morgan pulls out.....I probably shouldn't finish that sentence, but I recommend you read the articles and form your own opinion.

http://pevc.dowjones.com/article?an=DJFLBO0020140114ea1eqm0fr&from=alert&pid=15&ReturnUrl=http%3a%2f%2fpevc.dowjones.com%2farticle%3fan%3dDJFLBO0020140114ea1eqm0fr%26from%3dalert%26pid%3d15
 

http://online.wsj.com/news/articles/SB10001424052702304549504579321003515817962

 
https://www.moodys.com/research/Moodys-Downgrades-MModal-CFR-to-B3-Outlook-Negative--PR_270746

Looks like MModal's credit rating was downgraded again in October! - anon

[ In Reply To ..]
It's gone down even lower since last April ... their last credit review was in October 2013.

Found this:

https://www.moodys.com/research/Moodys-downgrades-MModal-ratings-Corporate-Family-to-Caa1-outlook-negative--PR_283252?WT.mc_id=NLTITLE_YYYYMMDD_PR_283252

WOW and they harrass us for not meeting expectations! - SOSDD

[ In Reply To ..]
seems that they should pay closer attention to their own house and let us do our jobs the way we know they should be done. But it seems they are flogging us for their short sightedness.

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