Charter has asked financial advisor Lazard to discuss with its bondholders financial alternatives to improve the MSO’s balance sheet—which currently counts approx $900mln in cash on hand and cash equivalents, and approx $21bln in debt. Such improvements "will better position Charter for the future while we continue to focus on delivering quality service to our customers and growing our business," said pres/CEO Neil Smit in a Fri release. This latest strategic move comes as Charter’s share price has plummeted to 13 cents, down from $1.17 in Jan, and amid its muddled long-term outlook. Execs have repeatedly said that solvency is guaranteed through ’09, but that ’10 remains a big question mark. The MSO’s bonds fell sharply Fri, according to Reuters.