Loan investors are waking up to the harsh reality that they could end up with much less than they had bargained for.
Recovery rates on leveraged loans, a type of debt used by many companies during the credit boom to fund buyouts, indicated in recent bankruptcies have been less than 25%, well below the historical average of more than 80%.
http://online.wsj.com/article/SB123561585107778441.html?mod=loomia&loomia_si=t0:a16:g2:r1:c0.135252:b0
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