Companies Once Again Grow into Their Leverage

MacFadyen, Ken
June 2011
High Yield Report;6/13/2011, p15
The article discusses the lending market revitalization with a business environment that had companies assuming growth into their leverage. Some companies are allegedly using mergers and acquisitions as a way to achieve an appropriate credit profile either by trimming the debt ratios or by leveraging up. Level 3 Communications' 3-billion dollar all-stock acquisition of Global Crossing led to synergies pegged at 2.5 billion dollars, and improved cash flow.


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