TITLE

Moody's Says Half of Defaults Came from PE

AUTHOR(S)
Rozens, Aleksandrs
PUB. DATE
March 2010
SOURCE
Mergers & Acquisitions Report;3/29/2010, Vol. 23 Issue 13, p9
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article focuses on a report issued by Moody's Investors Service on non-financial businesses that defaulted in 2009. The report revealed that 77 defaults in 2009 came from private equity (PE). It claimed that 261 issuers with debt rated by Moody's defaulted in 2009, which affected 328.9 billion U.S. dollar worth of bonds and loans. It also revealed that most PE-backed defaults was influenced by distressed exchanges and prepackaged bankruptcies.
ACCESSION #
48967069

 

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