By the end of 2002, Qwest Communications Inc, the largest U.S. communications company has reached an unsustainable level of liquidity in huge debts. To reduce this debt, Qwest offered its institutional investors the opportunity to exchange some unsecured notes for new senior subordinated secured notes. But bondholders had no reliable information on financial Qwest, and there are two-day period for the proposal to Qwest. See also In case (UV3889). "Hide
by Matthias Hild, Jordan Mitchell Source: Darden School of Business 11 pages. Publication Date: January 27, 2005. Prod. #: UV3887-PDF-ENG