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Problems at Teck Cominco Bring Trouble for Banks

The real problem here is not commodity prices, but risk aversion. Teck would be profitable enough to service its 4-year note for $4B and a 10-year debt instrument for $5B, even with coal and copper at lower levels. The problem is more one of credit availability and risk tolerance. If that's not cleared up before next October (when the bridge loan is due), we're all in a lot of trouble.

Nov 13 14:57 pm |Rating: 0 0 |Link to Comment |View article

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Problems at Teck Cominco Bring Trouble for Banks

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