Credit Markets Update: Telecoms hit as Qwest, Nortel contagion spreads

Qwest's problems followed news that a Securities Exchange Commission (SEC) inquiry in March had become a formal review yesterday, following a recommendation on Monday that action was likely against the number-four US telephone carrier. Qwest is under investigation for its accounting practices and exclusion of information related to its acquisition of telephone operator US West in January 2001.

"The market didn’t react on Monday,” said Matthew Johnson, a trader at ING Barings in London. “Now the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here