WorldCom Inc. Chief Executive John Sidgmore has no plans to ask for government aid as he seeks to rescue the second-largest U.S. long-distance phone company from a US$3.9 billion accounting scandal.

That is the only option he ruled out as he testified before lawmakers in Washington for three hours on Monday, The Associated Press reported.

Sidgmore said the company has a "number of proposals coming together" from banks as it tries to renegotiate debt and get new financing. Some of the scenarios could force WorldCom to file for bankruptcy protection, he said.

"We are fighting for our life," Sidgmore told the Financial Services Committee of the House of Representatives. "I am confident that we will pull this company through and turn it around - one way or another."

Sidgmore faced a barrage of questions from lawmakers about WorldCom's accounting - inquiries sharpened by the silence of the two executives who led the company into crisis.

Former Chief Executive Bernard Ebbers and fired Chief Financial Officer Scott Sullivan refused to talk to legislators, invoking their constitutional right against self-incrimination.

Lawmakers asked Sidgmore and Chairman Bert Roberts how the company, based in Clinton, Mississippi, hid US$3.9 billion in costs for more than five quarters and what it will do to prevent similar actions.

"Many questions still remain," Sidgmore told the panel. "We won't know the answers until the conclusion of the pending investigations."

The Securities and Exchange Commission has charged the company with fraud and is investigating its accounting. The Justice Department and at least two committees in Congress have also opened inquiries.