Qwest auction bond sale fails

Qwest Communications said it was unable to attract offers from prospective buyer for about $119 million in auction securities it is holding. The securities are higher-interest rate bonds whose value is set at regular auctions. However, buying action on such bonds reportedly has been scarce as a related result of the ongoing mortgage and credit crisis.

For more:
- Check out this article in The Minneapolis Star Tribune

Related articles:
- Qwest reported third-quarter earnings last week

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