Metromedia Falls on Possible Debt Rating Cut - TheStreet

Metromedia Fiber Network (MFNX) was down 16.3% after Moody's Investor Service said it may cut its rating on the company's senior unsecured debt.

The company, which builds high-speed fiber-optic communications networks in cities, on Monday cut its financial guidance for 2001, blaming a slowing economy and sinking sales.

At the close Wednesday, the stock was down 50.7% since the announcement.