360networks Falls on Debt Rating Cut - TheStreet

360networks (TSIX) was down 14% in late afternoon trading, hitting a 52-week low of 95 cents, after Moody's Investors Service cut its debt rating to Caa3 from B3, one of the lowest ratings.

The fiber-optic network builder will have difficulty raising the $300 million it needs to fund operations through the remainder of the year, Moody's said.