Newspaper article St Louis Post-Dispatch (MO)


Newspaper article St Louis Post-Dispatch (MO)


Article excerpt

ST. LOUIS FINANCE McDonnell Debt May Get Upgrade

Moody's Investors Service said Tuesday that it will review McDonnell Douglas Corp. and its finance unit for possible ratings upgrades on about $2 billion of long-term debt.

The rating agency said the review reflects the company's debt reduction and prospects "for resolving major financial uncertainties" in some military programs and its major aerospace businesses.

For the first nine months of 1993, McDonnell Douglas chopped debt in its aerospace business 29 percent to $1.97 billion from $2.77 billion at the end of 1992. Bloomberg MERCANTILE BANK New Branch Opens On N. Kingshighway

Mercantile Bank opened a full-service branch Tuesday at North Kingshighway Boulevard and Natural Bridge Road. The company said the $1 million project is the first bank building built in north St. Louis in more than 30 years.

The new branch is one of three Mercantile locations with extended hours, even on weekends. The lobby will be open from 9 a.m. to 3 p.m. on Saturday and 11 a.m. to 3 p.m. on Sunday. STEELMAKING Huntco Prices Issue

Huntco Inc. priced its public offering Tuesday. The sale of 1 million primary shares and 400,000 secondary shares will yield about $30.9 million, the company said, after underwriting discounts and expenses of the offering.

In addition, companies controlled by B.D. Hunter, chief executive of Huntco, granted the underwriters an over-allotment option on 210,000 shares. NATIONAL BEER Miller To Expand Icehouse Beer Sales

Miller Brewing Co. said Tuesday it is expanding the sale of Icehouse, the first American ice-brewed beer, following positive consumer response. …

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