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One Year Ago In The Credit Markets

Adelphia Communications' was expecting the bidding process for its assets to end.

Adelphia Communications' was expecting the bidding process for its assets to end. [Time Warner and Comcast Corp. emerged as the definitive winner with a bid of $17.6 billion, after fending off a last minute charge by Cablevision Systems Corp.] The $350 million "B" loan for Intelsat filled up prior to a bank meeting despite some buyside concern that too much satellite paper was flooding the market. [In September, Intelsat and PanAmSat's debt dropped on news of a merger between the two companies.]

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