TITLE

The Company You Keep

AUTHOR(S)
Freed, Dan
PUB. DATE
April 2006
SOURCE
Investment Dealers' Digest;4/10/2006, Vol. 72 Issue 14, p12
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the decision made by Cendant Car Rental Group to sell 1 billion dollars worth of junk bonds to take out lower-coupon asset-backed debt secured by its fleet of vehicles. Their move was considered counterintuitive, which seems to be driven by the deteriorating credit quality of General Motors Corp., who constitute a large percentage of cars from the fleet of Cendant Car Rental Group.
ACCESSION #
20463876

 

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