Issuers Still Putting Off Deleveraging

Sheahan, Matthew
September 2010
High Yield Report;9/20/2010, Vol. 21 Issue 38, p26
The article focuses on a report from Moody's Investors Service which claims that companies are not deleveraging in spite of having an easier time refinancing existing debt. Kevin Cassidy of Moody's stresses the need for both consumers and corporations to reduce leverage. A total of 32 billion U.S. dollars in high yield debt that matures between 2010 and 2012 has been refinanced by companies in 2010. The report adds that the 2013 and 2014 speculative-grade debt maturities may be much lower now due to the high level of junk bond primary issuance this year.


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