_________________________________________________________ Liquidity In our opinion, Radio One has adequate liquidity, but we could revise our assessment to less than adequate if operating trends weaken or if discretionary cash flow becomes negative. Our assessment incorporates the following expectations and assumptions: -- We expect sources of liquidity over the next 12 months to cover uses by 1.2x or more. -- Net sources would be positive, even with a 15% drop in EBITDA over the next 12 months, but net sources could swing negative without a rebound from this drop. -- Radio One has sufficient covenant headroom for EBITDA to decline by 15% without the company breaching coverage tests. -- The company has a sound relationship with banks. _______________________________________________________ http://investorshub.advfn.com/boards/read_msg.aspx?message_id=83060961
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