Business/Finance
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| December 19, 2008
Pali analyst Rich Greenfield has downgraded debt-stricken Charter to ‘neutral’ from ‘buy’ and trimmed both ’08 and ’09 estimates for the MSO, although he still believes Charter will "notably outperform its cable industry peers" this year and next. "With the risk of bankruptcy rising and CHTR’s pursuit of a massive debt for equity swap (enabling the company to finally be free cash flow positive) that would likely leave insignificant value for current equity holders," wrote Greenfield.