Credit markets in the telecom industry have loosened for many key players and this is good news. Cory has keenly watched the financial viability of our telecom partners, especially since the market turned steeply downward in September.
At that time even the most financially sound companies such as AT&T; were challenged to sell short-term debt for longer than overnight.
As a result, the cash-strapped telecom industry resorted to cutting unnecessary expenses, trimming fat and implementing all means to remain competitive in an ever evolving, highly dynamic environment.
Evaporating funding certainly hurt new product development and expansion plans for some of our vendors.
On the other hand, tightened budgets have created leaner organizations that are poised for strength and growth in the future:
Now, since November 2008, Cory has watched as credit markets have begun to open up. Verizon was able to borrow in November 2008, AT&T; in January 2009, and Qwest, Level 3 and Frontier all in 2009.
The telecom industry is one of the initial industries where investors and lenders are starting to provide much needed funding – for the most stable firms.
What Cory expects as the markets thaw and we move out of the recession, is an industry comprised of firms more suited for long term growth introducing new products and services that continue to revolutionize how businesses communicate through voice and data.
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