IDB Communications Group Inc’s proposed sell-out to LDDS Communications Inc has Standard & Poor’s Corp in a quandary and the ratings agency says it may raise or lower IDB’s convertible subordinated notes, now at triple-B-minus. Some $196m in notes are affected. The agency has revised the company’s implications to developing from negative following the deal with LDDS, which is expected to assume IDB’s debt. IDB’s ratings had been placed on CreditWatch with negative implications on June 2 in response to the disagreement that arose between IDB and its previous auditor regarding the timing of some first-quarter 1994 business transactions.
