IDB Communications Group Inc, Los Angeles is still not out of the woods with Standard & Poor’s Corp, which says it may still cut the company’s triple-B-minus rating on its $196m of convertible subordinated notes. The original review resulted from a disagreement with IDB’s previous auditors regarding the timing of some first-quarter 1994 business transactions. Since then IDB has retained Arthur Andersen & Co as its new outside auditor; the agency also noted that IDB is holding talks with unrated LDDS Communications Inc, which could make an offer to acquire IDB, and Standard & Poor’s will make a rating determination when the accounting issues and the status of the LDDS talks is clear.
