If debt analysts are gaining confidence in the company's financial stability, apparel analysts are still unsure about Levi's fashion sense and its new leader.

The company has been trying to negotiate financing of about $1.7 billion to help it through a bankruptcy reorganization, according to debt analysts.

Arranging the financing is particularly complex, debt analysts said yesterday, because six banks have made loans to various Adelphia entities.

Such cutbacks, debt analysts said, would depress construction activity and dampen any nascent recovery.

Lucent has less short-term debt coming due than Xerox, the debt analysts pointed out.

The company is trying to develop better relations with equity analysts and debt analysts.

Luckily for investors, the same cannot be said for debt analysts.

Elaine Francolino, Moody's debt analyst, pointed to a new $700 million secured bank loan the company received in November.

The new borrowing program may also be more expensive for WorldCom, debt analysts said.

While equity analysts assailed the short-term yields, debt analysts objected to the concentration of assets.