S&P may cut rating of Cone Mills stock
January 29, 2003,
New York — Standard & Poor's Rating Services, one of the big three corporate credit agencies, said it may cut its ratings on Cone Mills Corp. and has put the textile producer on "CreditWatch with negative implications."
Cone Mills' long-term corporate credit and senior secured debt is currently rated "CCC+." As of Sept. 29, Cone had about $155.2 million in outstanding debt.
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