Prospect News: News for Level 3 Communications, Inc.

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Market: BK = Bank loans, CV = Convertibles, DD = Distressed Debt, EM = Emerging Markets, HY = High Yield, IG = Investment Grade, LM = Liability Management, MU = Municipals, PP = PIPEs, PF = Preferreds, PV = Private Placements, SP = Structured Products
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Level 3 Communications, Inc.

3/11/2016	BKCVDDEMIGPV	Market Commentary: Upsized Extended Stay prices to cap $3.22 billion week; recent deals trade firmly
3/8/2016	BKCVDDEMIGPV	Market Commentary: Upsized Level 3 drives by, trades busily, GameStop retreats; energy, iron-ore credits down
11/2/2015	BKCVDDEMIGPV	Market Commentary: Goodyear, T-Mobile lead $4.35 billion drive-by parade; Ally, Huntington Ingalls also price
10/30/2015	BKCVDDEMIGPV	Market Commentary: Primary quiet to close out $6 billion week, $9.4 billion month; Thursday deals rise in heavy trading
10/29/2015	BKCVDDEMIGPV	Market Commentary: First Data, Level 3, Lennar price; Bombardier falls despite aid; funds gain $2.04 billion
10/29/2015	BKCVHY	S&P rates Level 3 notes B
8/28/2015	BKCVHY	Fitch upgrades Level 3 to BB-
8/13/2015	BKCVHY	Moody’s raises Level 3, debt
5/11/2015	BKCVHY	Moody’s reviews Level 3, rates loan Ba2
4/17/2015	BKCVDDEMIGPV	Market Commentary: Air Medical, NewStar price to cap $12.7 billion week, move up; AMD slides after results
4/16/2015	BKCVDDEMIGPV	Market Commentary: Communications Sales downsizes deal; Gulfport prices; bonds gain; funds up $791.6 million
4/15/2015	BKCVDDEMIGPV	Market Commentary: Charter pays a return visit; Carrols, Wave Division price; Tuesday deals busy; Linn gains
4/14/2015	BKCVDDEMIGPV	Market Commentary: Upsized Level 3, DaVita and Carrizo drive-bys dominate primary, trade actively in aftermarket
4/14/2015	BKCVHY	Moody's rates Level 3 notes B3
1/15/2015	BKCVDDEMIGPV	Market Commentary: Valeant, Targa price megadeals; Bombardier drops on plane pause; funds gain $879.5 million
1/14/2015	BKCVDDEMIGPV	Market Commentary: Level 3 drives by, Ziggo also prices; HCA megadeal stays busy; overall market lower
1/14/2015	BKCVHY	S&P rates Level 3 notes B
1/6/2015	BKCVDDEMIGPV	Market Commentary: Oil names off again as crude slides goes on, but drop slows; Cliffs climbs; NCI deal slates
11/18/2014	BKCVDDEMIGPV	Market Commentary: Mercer, upsized Owens-Illinois deals lead $3.5 billion session; new issues dominate trading
11/17/2014	BKCVDDEMIGPV	Market Commentary: Equinix two-parter, Level 3, Huntington Ingalls, Multi-Color price; Guitar Center falls
11/17/2014	BKCVHY	Moody’s rates Level 3 notes Caa1
11/17/2014	BKCVHY	Fitch rates Level 3 notes B, BB
11/5/2014	BKCVHY	S&P upgrades Level 3
10/29/2014	BKCVHY	Moody’s ups Level 3 CFR to B2
10/8/2014	BKCVHY	S&P rates Level 3 loan BB
10/7/2014	BKCVHY	Moody's rates Level 3 loan Ba3
8/4/2014	BKCVDDEMIGPV	Market Commentary: Sunshine Oilsands deal opens week as market tries to rebound; American Eagle Energy on tap
8/1/2014	BKCVDDEMIGPV	Market Commentary: Primary quiet as deals pushed off, closing $5.7 billion week; market struggle continues
7/30/2014	BKCVDDEMIGPV	Market Commentary: Mallinckrodt, upsized Paper Works price; Level 3 stays busy; First Data off after numbers
7/29/2014	BKCVDDEMIGPV	Market Commentary: Upsized Level 3, other drive-bys pace $2.5 billion session; Windstream busy on REIT plan
7/29/2014	BKCVHY	Fitch: Level 3 view positive
7/29/2014	BKCVDDHY	Moody’s rates Level 3 notes B3
7/29/2014	BKCVHY	S&P rates Level 3 notes B
6/18/2014	CV	Moody’s ups Portugal Telecom
6/18/2014	CV	Moody’s ups Portugal Telecom
6/18/2014	BKCVHY	Moody’s may lift Level 3
6/18/2014	BKCVHY	Moody’s may cut tw telecom
6/17/2014	BKCVHY	S&P might lift Level 3
6/9/2014	BKCVHY	S&P elevates Level 3
6/2/2014	BKCV	Fitch upgrades Level 3
5/16/2014	BKCVHY	S&P could lift Level 3
12/31/2013	CVLM	Level 3 converts some 6.5% convertibles, redeems remaining amount
12/4/2013	BKCVHY	Level 3 eyes lower leverage, refinanced $2.6 billion of debt, says CFO
11/25/2013	CVLM	Level 3 calls $201.25 million 6.5% convertible senior notes due 2016
11/12/2013	BKCVHY	Fitch rates Level 3 notes BB-/RR2
11/12/2013	BKCVDDHY	Moody's rates Level 3 notes B3
11/12/2013	BKCVDDHY	S&P rates Level 3 notes CCC+
10/30/2013	BKCVDDHY	S&P rates Level 3 notes CCC+
10/30/2013	BKCVHY	Fitch rates Level 3 notes BB-
9/25/2013	BKCVHY	Level 3 Communications on track to reach leverage target, plans to continue debt repayment
9/24/2013	BKCVDDHY	Moody's rates Level 3 loan Ba3
9/24/2013	BKCVHY	S&P rates Level 3 loan BB-
9/24/2013	BKCVHY	Fitch assigns Level 3 loan BB/RR1
8/13/2013	BKCVHY	S&P rates Level 3 loan BB-
8/13/2013	BKCVHY	Fitch rates Level 3 loan BB/RR1
8/13/2013	BKCVHY	Moody's rates Level 3 loan Ba3
8/6/2013	BKCVHY	Fitch rates Level 3 loan BB
8/5/2013	BKCVHY	S&P assigns BB- to Level 3 term loan
8/5/2013	BKCVHY	Moody's rates Level 3 loan Ba3
7/26/2013	CV	Market Commentary: Level 3 strong after earnings; Tesla extends gains; Goodrich better; American Realty weak
6/3/2013	BKCVDDHY	S&P upgrades Level 3
2/13/2013	CV	Market Commentary: BlackRock Kelso flat; planned Cliffs wrestles borrow; Starwood up; WellPoint flat to lower
10/24/2012	BKCVHY	Level 3 reports capital markets transactions of $3.7 billion in Q3
9/26/2012	BKCVHY	Moody's: Level 3 loan Ba3
9/26/2012	BKCVHY	S&P rates Level 3 loan B+
8/15/2012	BKCVHY	Level 3 Communications has 'transformed' balance sheet, CEO says
8/3/2012	BKCVHY	Fitch: Level 3 notes at BB-
8/1/2012	BKCVDDHY	S&P rates Level 3 notes CCC
8/1/2012	BKCVHY	Moody's rates Level 3 loan Ba3, notes B3
7/25/2012	BKCVHY	Level 3 reports free cash flow for Q2, expects to cut leverage: CFO
7/18/2012	BKCVDDHY	Moody's rates Level 3 notes Caa2
7/18/2012	BKCVDDHY	Fitch rates Level 3 notes B-
7/18/2012	BKCVDDHY	S&P rates Level 3 notes CCC
3/14/2012	CV	Market Commentary: New Medivation, Wintrust edge higher; secondary quiet; overseas new issue market heats up
3/13/2012	CVLM	Level 3 agrees to exchange $100.06 million of convertibles for stock
1/11/2012	BKCVHY	Moody's: Level 3 notes B3
1/10/2012	BKCVDDHY	S&P rates Level 3 notes
1/10/2012	BKCVHY	Fitch rates Level 3 notes BB-/RR2
12/7/2011	BKCVHY	Level 3 to improve balance sheet to level of 'competitive strength'
11/10/2011	BKCVLM	Level 3 closes term loan, gives 3.5% convertibles redemption notice
11/7/2011	BKCVHY	Fitch rates Level 3 loan BB
11/4/2011	BKCVHY	S&P assigns Level 3 loan B+
11/2/2011	BKCVHY	Level 3 CFO says acquisition 'significantly improved' credit profile
10/12/2011	BKCVHYLM	EarthLink touts 'particularly strong' balance sheet, will redeem convertibles next month
10/4/2011	BKCVHY	Moody's ups Level 3 to B3
10/4/2011	BKCVHY	Fitch upgrades Level 3
8/23/2011	CV	Market Commentary: Omnicare down on acquisition plan; James River lower; Kodak improves with lower shares
8/3/2011	BKCVDDHY	S&P rates Level 3 loan B+
7/22/2011	BKCVHY	S&P affirms Level 3
7/15/2011	BKCVDDHY	S&P: Level 3 unchanged
7/7/2011	CVLM	Level 3 holders agree to convert $127.96 million of 15% convertibles
6/1/2011	BKCVHY	Level 3 touts Global Crossing deal as key to lower borrowing costs
5/25/2011	BKCVDDHY	S&P rates Level 3 notes CCC
5/25/2011	BKCVDDHY	Moody's: Level 3 notes at Caa1
5/25/2011	BKCVDDHY	Fitch: Level 3 unchanged
4/11/2011	BKCVDDHY	Fitch puts Level 3 on positive watch
4/11/2011	CV	Market Commentary: American Medical mixed on hedge on takeout news; Endo lower; AMR off; PPL, Hercules on tap
4/11/2011	CVDDHY	Moody's puts Global Crossing under uncertain review
4/11/2011	BKCVHY	Level 3 projecting stronger credit profile, free cash flow after Global Crossing acquisition
4/11/2011	BKCVDDHY	S&P places Level 3 on positive watch
4/11/2011	BKCVDDHY	Moody's may lift Level 3
3/4/2011	BKCVHY	Fitch rates Level 3 notes B+
3/1/2011	BKCVHY	S&P rates Level 3 notes CCC
3/1/2011	BKCVHY	Moody's rates Level 3 notes Caa1
2/22/2011	CVLM	Level 3 redeems its $195.67 million of 5.25% convertibles due 2011
2/4/2011	CV	Outright convertible players add 1.9% for January, Citigroup says
1/24/2011	CVHYLM	Level 3 to issue $300.22 million more 11 7/8% notes in exchange for remaining 9% convertibles
1/19/2011	CVLM	Level 3 calls all $195.7 million of its 5.25% convertibles due 2011
1/11/2011	BKCVDDHY	Moody's rates Level 3 notes Caa3
1/11/2011	BKCVDDHY	S&P rates Level 3 notes CCC
1/11/2011	BKCVHY	Fitch affirms Level 3
10/28/2010	CV	Level 3 greenshoe exercised, lifts convertibles by $26.25 million
10/7/2010	BKCVHY	Level 3 targeting leverage ratio between 3 times and 5 times
9/15/2010	CV	New Issue: Level 3 gives details of new $175 million 6.5% six-year convertibles
9/15/2010	CV	Market Commentary: Level 3, Volcano, AngloGold rise in secondary; Tower up but quiet; NextEra comes discounted
9/14/2010	BKCVHY	Fitch assigns Level 3 notes CCC
9/14/2010	CV	New Issue: Level 3 prices $175 million of six-year 6.5% convertibles, up 30%
9/14/2010	CV	Market Commentary: Convertible primary revives; Level 3, Volcano up in gray market; AngloGold launches bonds
9/14/2010	BKCVHY	S&P rates Level 3 convertibles CCC
9/13/2010	CV	Level 3 plans to sell $175 million six-year convertibles to yield 6.25%-6.75%, up 22.5%-27.5%
9/13/2010	CV	Market Commentary: Hertz comes 'in' a little on swap with better Dollar Thrifty bid; Level 3, Volcano on tap
4/28/2010	CVLM	Level 3 calls its $171.8 million 10% convertibles due 2011 at 101.67
3/3/2010	BKBWCVHY	Level 3 comfortable with balance sheet, considers capital projects
2/10/2010	BKBWCVHY	Level 3 closes 2009 with $836 million of cash, buys back $73 million of debt in fourth quarter
1/11/2010	BKCVHY	Fitch affirms Level 3, gives notes B+
1/5/2010	BKCVHY	S&P affirms Level 3
10/28/2009	CVHY	Level 3 repaid 6% convertibles, bought $39 million notes in quarter
10/2/2009	CVPP	New Issue: Level 3 Communications gives details on $275 million convertibles deal
10/1/2009	CVPP	New Issue: Level 3 Communications $275 million convertibles due 2015 yield 7%
7/30/2009	CVHY	Level 3 buys back $314 million of debt at discount in second quarter
6/26/2009	CV	Fitch lowers Level 3 convertibles
6/23/2009	BKCVHY	Fitch gives Level 3 convertibles CCC
6/22/2009	CV	Level 3 to swap new convertibles, cash for 6%, 2.875% convertibles
5/11/2009	CV	Level 3's longer convertibles offer play on improving fundamentals, credit, Barclays says
5/4/2009	BKCVHY	Fitch affirms Level 3
4/28/2009	BKBWCVHY	Level 3 improves free cash flow through higher EBITDA, lower capex
4/8/2009	BKCVHY	Fitch rates Level 3 loan BB-
4/7/2009	BKCVDDHY	Moody's rates Level 3 loan B1
4/6/2009	BKCVHY	S&P cuts Level 3 notes to CCC, rates loans B+
3/6/2009	BKCVDDHY	Moody's downgrades some Level 3 bonds
2/11/2009	BKBWCVHY	Level 3 ends 2008 with adequate cash on hand to cover 2009-2010 debt maturities
12/31/2008	CV	S&P cuts Level 3 Communications to SD
12/31/2008	CV	Level 3 accepts tenders for $123.85 million of 6% convertibles due 2009
12/23/2008	CV	Level 3 completes tender for two series of convertibles, waives minimum, extends offer for third
12/16/2008	CV	Level 3 extends tender offers for 2.875%, 6% convertibles, reduces minimum tender condition
12/8/2008	CV	Level 3 waives financing condition for tender offers for 2.875%, 6% convertibles
11/24/2008	BKCVHY	Moody's lowers Level 3
11/18/2008	BKCVHY	S&P cuts Level 3
11/18/2008	CVPP	New Issue: Level 3 adds investor to $400 million direct placement of convertibles
11/17/2008	CV	Level 3 begins tender offers for 2.875%, 6% convertibles
11/17/2008	CVPP	New Issue: Level 3 plans $400 million direct placement of convertibles
11/17/2008	CV	Market Commentary: Citigroup trades little changed on job cut news, GM mixed; Level 3 longer-dated paper strengthens
11/4/2008	CVHY	Level 3 files automatic shelf registration
10/23/2008	BKCVHY	Level 3 reduces debt by $179 million since end of second quarter
10/23/2008	CV	Market Commentary: Level 3, ProLogis lower after earnings; NII weaker; LifePoint Hospitals down ahead of earnings
10/16/2008	CV	Market Commentary: Medtronic falls on report; Level 3 exchanges boost notes; AMR gains as oil slips; more buybacks possible
10/15/2008	CV	Level 3 issues stock in exchange for $108.21 million of convertibles
9/24/2008	CV	Level 3 shares being offered by Merrill to unwind bond hedge and warrant transactions
9/9/2008	BKCVHY	Level 3 still planning to refinance 2010 maturities as credit profile improves
8/29/2008	BKCVHY	Fitch: Level 3 outlook positive
7/24/2008	BKCVHY	Level 3 posts positive second-quarter free cash flow, expects to sustain cash generation
7/24/2008	CV	Market Commentary: National City off slightly; WaMu slides; Cadence falls; Alliance Data trades in line in debut
4/23/2008	BKCVHY	Level 3 reports 24% EBITDA growth, uses cash to repay first-quarter debt maturities
4/23/2008	CV	Market Commentary: Level 3 takes off on earnings, cash flow outlook; Ambac tumbles on loss; AirTran fails to spark interest
3/14/2008	BKCVDDHY	Level 3 planning to use cash to repay 2009 maturities, refinance in 2010 and beyond
3/10/2008	CV	Market Commentary: Convertible bonds weaken; Countrywide down 3 points; Level 3, Merrill active
2/26/2008	BKCVDDHY	Level 3 says cash flow losses will be substantially lower this year, expects to be cash flow positive in '09
2/25/2008	CV	Market Commentary: Level 3 mixed ahead of presentation; GM, Ford in line on reports; Archer Daniels, Beckman Coulter active
2/22/2008	CV	Market Commentary: Silver Standard muted on debut; EMC slips with stock; Amgen, Level 3 lower as markets end mixed
2/20/2008	CV	Market Commentary: Convertibles thinly traded amid weaker tone; Suntech, Level 3 lower; Encysive surges
12/14/2007	CV	Market Commentary: Evergreen convertibles up on analyst upgrade; United Rentals up; Level 3 lower; Euronet gains
12/4/2007	CV	Market Commentary: Nabors down on Transocean deal; Ford falls; Microchip deal prices aggressive, opens flat
11/16/2007	BKCVDDHY	Level 3 expects to realize leverage ratio goal in 2009, says cash losses will decline in coming quarters
11/7/2007	BKCVHY	Moody's cuts Level 3 to SGL-2, bonds to Caa1
10/24/2007	CV	Market Commentary: Amazon swings to big loss; YRC active ahead of earnings; Level 3 fall continues; sector woes hurt Intel
10/23/2007	CV	Market Commentary: Level 3 hammered on earnings; Countrywide down on borrower bailout; Medtronic coming back?
10/23/2007	BKCVHY	Level 3 cuts 2007, 2008 guidance due to inability to meet expected revenue growth
10/15/2007	CV	Market Commentary: Medtronic down on recall; resignation drives down Level 3; Tektronix surges with takeover
10/10/2007	CV	Market Commentary: Molson Coors continues hot streak; Countrywide edges up; ISIS, Level 3 fall; Rayonier, iStar set to play
10/5/2007	CV	Market Commentary: Molina opens strong; Eastman Kodak, Symantec, Amgen, Level 3, Best Buy all up; EMC mixed
9/11/2007	BKCVHY	Level 3 targets leverage ratio of 3 times to 5 times as 'suitable' level
8/24/2007	BKCVHY	Fitch lifts Level 3
4/26/2007	CV	Market Commentary: Level 3 falls outright, better hedged on loss; Xilinx gains on guidance; Freeport-McMoran slips further
3/5/2007	BKCVHY	S&P assigns Level 3 Financing loan B
2/21/2007	CV	Market Commentary: Medtronic holds firm after lowered outlook; Level 3 climbs on ratings upgrade; XM remains active
2/20/2007	BKCVDDHY	S&P lifts Level 3, gives notes CCC+
2/14/2007	BKCVDDHY	Fitch rates Level 3, notes B
2/12/2007	BKCVDDHY	Moody's rates Level 3 loan B1, notes B3
2/9/2007	BKCVDDHY	S&P: Level 3 on positive watch
2/8/2007	CV	Market Commentary: Suntech takes off on early debut; EMC climbs on spinoff plans; Level 3 lower on results, debt sale
1/23/2007	CVSS	Level 3 issues 36.7 million shares for $115 million 10% notes
1/12/2007	CV	Market Commentary: Level 3 climbs on exchange of 10% convertible; Six Flags improves on parks sale despite skepticism
1/12/2007	CV	Level 3 begins change-of-control offer for Broadwing's 3.125% convertibles
1/11/2007	CVSS	Level 3 to issue shares for $490 million 10% notes
12/15/2006	BKCVDDHY	S&P gives Level 3 notes CCC-
12/13/2006	BKCVDDHY	Fitch rates Level 3 note B
12/4/2006	BKCVDDHY	Level 3 says it will refinance debt maturities at lower coupon rates
11/30/2006	CV	Market Commentary: Sirius gains on new product; Level 3 higher on rumors; Goodrich plans deal; Acquicor seen as outright deal
10/30/2006	CV	Market Commentary: Level 3 gains on takeout rumors; Medis quiet amid borrow concerns; Invitrogen, Red Hat gain slightly
10/26/2006	BKCVDDHY	Moody's rates Level 3 notes B2
10/26/2006	BKCVDDHY	Fitch rates Level 3 notes B
10/26/2006	BKCVDDHY	S&P rates Level 3 note CCC-
10/17/2006	BKCVHY	Fitch: acquisition of Broadwing positive for Level 3
10/17/2006	CV	Market Commentary: Level 3 jumps, Broadwing trips on buyout; ICOS gains on Eli Lilly offer; Home Properties launches deal
7/7/2006	CV	Market Commentary: PMC-Sierra trips on outlook, CFO's resignation; General Motors up on meeting; Par Pharmaceutical eases
6/14/2006	CV	Market Commentary: Intel gains on stock upgrade; Alleghany seen slightly cheap; Freeport-McMoran rises with copper prices
6/13/2006	CV	Level 3 greenshoe partially exercised, upping convertibles offer to $335 million
6/8/2006	CV	New Issue: Level 3 sells upsized $300 million six-year convertibles within talk, at 3.5%, up 20%
6/8/2006	CV	Market Commentary: Level 3, Advanced Medical climb on arrival; International Rectifier scraps deal; Interpublic stays aloft
6/7/2006	CV	Market Commentary: Interpublic, Spansion, Charles River climb, Millipore struggles on debuts; Level 3 up in gray; L-3 gains
6/6/2006	CV	Level 3's $150 million 6-year convertibles to price Wednesday, talked at 3.25%-3.75%, up 17.5%-22.5%
6/6/2006	CV	Market Commentary: New deals seen as unexciting; Spansion structure seen as too long; Charles River, Millipore views mixed
6/6/2006	BKCVDDHY	S&P gives Level 3 Communications notes CCC-
6/5/2006	CV	Market Commentary: SanDisk gains outright on stock upgrade; Sepracor falls on probe; Interpublic plans unique deal
6/2/2006	BKCVDDHY	Moody's ups Level 3, rates convertibles Caa3
5/31/2006	BKCVDDHY	Fitch rates Level 3 convertibles CCC-
5/30/2006	CV	Market Commentary: CA up dollar-neutral amid delayed earnings; Level 3 deal seen as attractive; Cubist plans deal as expected
5/30/2006	CV	Level 3 $150 million six-year convertibles talked at 3.25%-3.75%, up 17.5%-22.5%
5/5/2006	BKCVDDHY	Moody's affirms Level 3 ratings
5/3/2006	BKCVDDHY	Fitch ups Level 3 outlook to positive
5/1/2006	CV	Market Commentary: Level 3 gains on $1.2 billion acquisition; Teva gets court boost; Human Genome tightens on drug trials
4/25/2006	CV	Market Commentary: Serologicals weakens on hedged basis; JetBlue, Level 3 gain on results; Dov falls on drug trial woes
4/17/2006	CV	Market Commentary: Delta, JetBlue dive on oil, downgrades; Red Hat falls, Novell gains on Oracle CEO's comments
4/3/2006	BKCVDDHY	S&P rates Level 3 notes CCC-
4/3/2006	BKCVDDHY	Fitch rates Level 3 notes B
3/30/2006	CV	Market Commentary: BioMarin, Best Buy, Lamar Advertising gain; but Casual Male, Level 3, Interpublic are lower
3/29/2006	CV	Market Commentary: Lear gains on financing news, Amdocs strengthens; new issue from AMG fails to enthuse
3/28/2006	CV	Market Commentary: Level 3, Time Warner Telecom, Transocean gain on stronger outlooks; Affiliated Managers plans new deal
3/7/2006	BKCVDDHY	S&P rates Level 3 notes CCC-
3/7/2006	BKCVDDHY	Moody's rates Level 3 notes Caa1
2/10/2006	CV	Market Commentary: Freeport-McMoran, Inco sink in metals meltdown; Level 3 gains while investors still sweet on Nektar
1/26/2006	BKCVDDHY	Fitch: Level 3 acquisition positive
1/19/2006	BKCVDDHY	S&P reassigns CCC+ to Level 3
1/10/2006	BKCVDDHY	S&P rates Level 3 notes CCC-
12/30/2005	BKCVDDHY	Moody's: Level 3 outlook stable
12/12/2005	BKCVDDHY	Moody's rates Level 3 notes Ca
12/12/2005	BKCVDDHY	S&P puts Level 3's 2008 debt on negative watch
12/12/2005	BKCVDDHY	Fitch affirms Level 3
11/8/2005	BKCVDDHY	Fitch affirms Level 3
11/1/2005	BKCVDDHY	Fitch: Level 3 acquisition of WilTel positive for credit
11/1/2005	BKCVDDHY	Moody's ups Level 3 to developing
10/31/2005	BKCVDDHY	S&P: Level 3 unaffected
10/31/2005	CV	Market Commentary: Merger news spurs trades in Placer Dome, Chiron, Leucadia and Level 3
7/21/2005	CV	Market Commentary: Cheniere Energy to price $300 million deal; selling hits convertibles as Treasuries slump
7/21/2005	CVDDHY	Level 3 posts wider second-quarter loss on lower revenue, but results better than expected
5/16/2005	CV	Market Commentary: Level 3 bonds indifferent to unit IPO; Fannie Mae bounces then retreats; TOP Tankers afloat anew
4/26/2005	CV	Market Commentary: Curagen plunges amid big sellout; Level 3 founders; XM rises, Sirius dips; Wynn bid up; airlines plunge
4/26/2005	BKCVDDHYPP	Level 3 posts smaller Q1 loss, says new convertible deal boosts liquidity
2/28/2005	CVPP	Level 3 says Legg Mason will participate in $880 million note offering
2/25/2005	BKCVDDHYPP	S&P rates Level 3 convertibles CC
2/23/2005	CVPP	New Issue: Level 3 releases additional details on $880 million direct placement
2/22/2005	CV	Market Commentary: Level 3 converts rise on private deal; UniSource, Allied Waste deals emerge; Par, Ivax, Teva up
2/22/2005	CVPP	New Issue: Level 3 secures $880 million in direct placement of convertible notes
2/17/2005	CV	Market Commentary: BlackRock lifted; Lions Gate rolls out; Sepracor arbs hurt; REITs hit; Royal Caribbean call risk allayed
2/15/2005	CV	Market Commentary: Sybase slightly over par in gray market; Saks up on Circuit City buyout news; Amkor, Primus up
2/14/2005	CV	Market Commentary: Verizon issue quiet on MCI deal; Juniper, Powerwave, Corning off while Lucent gains amid merger noise
2/11/2005	CV	Market Commentary: Huntsman climbs out of the chute; Level 3, Charter higher on buying; Primus Tel drops, Saks cheapens
2/10/2005	CV	Market Commentary: Guitar holders like acquisition; Coltec up; Protein Design seen re-priced, trades light at 98
2/8/2005	BKCVHY	Level 3 warns of uncertain '05 outlook but says liquidity "healthy," company welcomes industry consolidation
2/8/2005	CV	Market Commentary: Southern Union advances, prices tight; Protein Design Labs seen rich; Level 3, EDS dive on results
1/25/2005	CV	Market Commentary: Rite Aid trades up 0.25 point in gray market; Beverly Enterprises takeover chatter squeezes hedgies
1/12/2005	CV	Market Commentary: Level 3 higher on job cuts; CenturyTel off; Kodak up; Advanced Micro rebounds
1/12/2005	BKCVHY	Level 3 cuts jobs, reaffirms guidance; touts impact of fourth-quarter debt transactions
1/3/2005	CV	Market Commentary: Fannie Mae convertible steady; Sallie Mae's floater rises; techs open New Year lower
12/3/2004	BKCVDDHY	S&P cuts Level 3 Communications to default
12/2/2004	CV	Level 3 greenshoe exercised, raising convertibles to $345 million
11/22/2004	CV	Market Commentary: Kodak snapped up; Novell easier; Overstock issue gains on holiday outlook; GenCorp off
11/19/2004	BKCVHY	S&P cuts Level 3 notes to CC, rates loan CCC, converts CC
11/19/2004	CV	Market Commentary: Fresh paper flutters in lower session; Sirius rebounds; Continental, airlines easier
11/18/2004	CV	New Issue: Level 3 sells upsized $320 million convertible at 5.25%, up 20%
11/18/2004	CV	Market Commentary: XM Satellite deal seen at 98.75 but most new issues zoom; Sirius pounded; Williams hit
11/18/2004	BKCVHY	Fitch affirms Level 3
11/17/2004	CV	Market Commentary: Charter rises past 105, then eases to 102 bid; Level 3, GenCorp, Overstock at bat
11/16/2004	BKCVDDHY	Moody's rates Level 3 loan B3, convert Ca, ups notes to Caa1
11/16/2004	BKCVDDHY	Fitch rates Level 3 loan B-
11/16/2004	CV	Market Commentary: Six Flags zooms out of chute; Charter bid at issue, Level 3 quiet; GenCorp talk emerges
11/15/2004	CV	Market Commentary: Charter deal priced to sell, 5.75s climb to 99.5; Six Flags, Overstock.com deals emerge
11/12/2004	CV	Level 3 Communications $200 million convertibles talked at 5.0%-5.5%, up 17.5%-22.5%
11/12/2004	CV	Market Commentary: Level 3 emerges; FuelCell hovers at par; Nortel dumped for Lucent; Delta gains ground
11/3/2004	BKCVHY	S&P cuts Level 3 Communications notes to C
10/12/2004	CV	Market Commentary: Apex Silver hovers around par; Amkor firms as bids hit; NPS Pharma, biotechs suffer
9/30/2004	BKCVDDHY	Fitch rates Level 3 senior debt CCC
8/24/2004	CV	Market Commentary: Reliant gains on switching out of Calpine; CenterPoint easier; Delta better; ViroPharma gains
4/29/2004	CVHY	Level 3 loss widens; sees debt reduction in wake of Allegiance termination
4/20/2004	CV	Market Commentary: Sellers emerge; Charter weaker on junk deal; Lucent leads telecom paper sharply lower
3/10/2004	CV	Market Commentary: Level 3 falls on Global Crossing meltdown; Marriott offered at par in gray market; biotechs plummet
2/25/2004	CV	Market Commentary: Level 3 gains 2 points on massive credit spread blowout; Adelphia whipsaws, ends in 40s
2/6/2004	CV	Market Commentary: EDS slides on Navy contract write-off; Pegasus plunges 25 points as DirecTV talks end
2/5/2004	CV	Market Commentary: AGCO plowed under on SEC inquiry; Level 3 leveled on dim outlook; three deals at bat
11/11/2003	CV	Lehman sees Level 3's 2.875% convertible for stock exposure, 6% convertible for credit
10/23/2003	BKCVDDHY	Level 3 to exchange $352 million debt for stock, $208 million 9% convertibles
9/25/2003	BKCVDDHY	Moody's upgrades Level 3 senior unsecured, raises outlook, rates notes Caa2
9/24/2003	BKCVDDHY	S&P changes Level 3 outlook to developing, notes rated CCC-
9/23/2003	CV	Market Commentary: Northrop, L-3 pounded lower as Citi cuts defense stocks; CKE soars 4.5 points in gray market
9/10/2003	CV	Market Commentary: Energy bucks downward trend; overall sentiment positive; telecoms, tech down but Level 3 up
7/14/2003	CV	Market Commentary: Six new deals totaling $690 million on tap for this week; Charter levels off, Tyco up
7/8/2003	CV	Level 3 says greenshoe exercised, raising convertibles to $373.75 million
7/7/2003	CV	Market Commentary: HealthSouth converts bid up some 20 points on financials; trading sees post-holiday lull
7/3/2003	BKCVDDHY	Moody's rates new Level 3 convert Caa3
7/3/2003	CV	Market Commentary: Players focus on stocks as volatility spikes on snafu at CBOT; most new paper lower
7/2/2003	CV	New Issue: Level 3 sells upsized $325 million convertibles at 2.875%, up 19.07%
7/2/2003	CV	Market Commentary: Volatility players emerge with a vengence, picking up mostly new deals with lower premiums
7/1/2003	CV	Market Commentary: Broader market softer but new paper from Sina, Fisher higher; Level 3 seen getting upsized
7/1/2003	BKCVHY	S&P rates new Level 3 convert CC
6/30/2003	CV	Level 3 $250 million convert talked to yield 2.875-3.375%, up 18-22%
6/30/2003	CV	Market Commentary: Rush of deals launched ahead of holiday; 4 at bat, another 4 set for Tuesday; Mirant finds support
4/24/2003	CV	Market Commentary: Converts mixed as stock rally falters while spreads tighten; new issues mixed as well
2/5/2003	CV	Wachovia analyst: do not be charmed by Level 3's results
12/2/2002	CV	Level 3 makes opportunistic acquisition with Genuity purchase, but converts lag in market
10/18/2002	CV	S&P rates AES' new loan, notes at BB
8/27/2002	CV	Fitch cuts Interpublic Group
8/27/2002	CV	Market Commentary: Busted market holds firm amid thin trading while stocks slide
8/26/2002	CV	Wachovia analysts: Level 3 may not have enough liquidity through 2003
8/23/2002	BKCVHY	Level 3 amends credit facility, easing covenants, cutting availability, raising rates
8/6/2002	CV	S&P puts Manpower on negative watch
8/6/2002	CV	Market Commentary: Prices, trading volumes gain on short covering, stock bounce
7/8/2002	CV	Level 3 gets $500 million cash infusion for acquisitions
7/8/2002	CV	Market Commentary: Market idled by stock slump, summer, lack of new issues
2/1/2002	CV	Market Commentary: Convertibles flat as stocks stall, new deals wind down
1/30/2002	CV	S&P downgrades Level 3 bonds two notches, still on watch
1/28/2002	CV	Market Commentary: Convertibles market preps for new deals, telecoms sink on Global Crossing bankruptcy
1/3/2002	CV	Market Commentary: Convertibles gain on tech, telecom buying rush but volume still thin
12/21/2001	CV	Fitch affirms Williams senior notes at BBB
11/14/2001	CV	Level 3 exchanges $169 million convertibles for equity
10/31/2001	CV	Market Commentary: Convertible market bounces with stocks, new deal pricing
10/24/2001	CV	Tenders
10/23/2001	CVHY	Level 3 to pay $720.6 mln in dutch auction tender for $1.713 bln notes
10/9/2001	CVHY	Level 3 raises debt tender to $2.86 bln face amount from $1.5 bln
10/3/2001	CV	Moody's warns on wireline telecom sector
9/25/2001	CVHY	Level 3 cuts tender offer for debt to $1.5 billion from $1.8 billion

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