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As a result of the write-down, AOL has been Tiffany Atlas to amend covenants on some of its debt facilities to avoid breaching conditions requiring the company to maintain a certain level of net assets. Mr Parsons said AOL's aim was to reduce its debt to a ratio of 2.25-2.75 times its annual ebitda and the company would be "comfortably" in that range by the end of 2003.AOL Time Warner unveiled a $45bn (29bn) loss Tiffany Elsa Peretti Open Wave earrings the final three months of 2002 which left the company...The charge came as BCE reported fourth-quarter net earnings of C$1.7bn, against losses of C$299m last time, buoyed by a C$1.8bn gain from the sale of its directories business. One-off gains Tiffany Elsa Peretti Open Wave pendant included tax benefits and adjustments of C$505m from the sale of BCE's troubled Teleglobe long-distance unit. BCE chief executive Michael Sabia, who inherited the strategy from his predecessor Jean Monty, has sought to turn BCE's focus back on to its core telecoms operations, fuelling speculation that the media assets would be sold. Altria, the renamed Philip Morris group, warned Tiffany Elsa Peretti Open Wave ring underlying earnings per sharewould increase by less than 3 per cent this year, as deep-discount rivals continued to put pressure on its Marlboro cigarettes. Shares had dropped 6 per cent before Altria's mid-morning earnings statement, after Kraft Foods - of which Altria owns 84 per cent - warned late on Tuesday that profits would undershoot forecasts. Kraft shares were down 12 per cent at $31.76 by midday - their biggest one- day fall since the partial spin-off from Philip Morris in 2001.