Moody's Downgrades USEC (USU) to 'Ca'; Outlook Negative
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USEC Inc. (USU) Enters Agreement to Restructure $500M of Convertible Notes
December 16, 2013 6:22 AM ESTUSEC Inc. (NYSE: USU) has reached an agreement with a majority of the holders of its senior convertible notes on the terms of a financial restructuring plan that will strengthen the companys balance sheet, enhance its ability to sponsor the American Centrifuge project and improve its long-term business opportunities. Under the terms of the agreement, the company will replace approximately $530 million in convertible notes that are scheduled to mature in October 2014 with new debt and equity.
We are pleased to reach agreement with a significant number of our noteholders on a plan... More
