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Chris B » Comments » ADP

  • 'AAA' Rated Companies: And Then There Were Six [View article]
    The stock went up 8% (so far) in reaction to this news. Perhaps a deeper cut was expected by the markets.

    I'm nonetheless afraid the company has squandered their competitive advantage by losing that AAA. If this increases their cost of capital by even 0.2%, the hit will cost them billions. This comes at a time when new Chinese competition with $1/hour workers, no unions, and no pensions is finally getting the abilility to provide ultra-cheap customer financing. I hope those dividends were worth it.
    Mar 12 10:40 am |Rating: +2 -3 |Link to Comment
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