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...But companies need to refinance more than $1tn of debt in the coming four years, according to figures from rating agency Moody’s, at a time when interest rate rises have made borrowing more expensive....
...Earlier this week, rating agencies S&P Global and Moody’s put Equinox on watch for downgrades deeper into junk territory, fearing that it could face a restructuring if it were unable to refinance the loans...
...Credit rating agency Moody’s has warned of a “race to the bottom” between banks and private credit funds financing risky leveraged buyouts, a contest it believes will increase systemic risks across the US...
...Prospective wildfire payouts prompted S&P Global and Moody’s to downgrade PacifiCorp’s debt ratings last year....
...About a fifth of the loans in the BCRED CLO can be rated triple-C or below by Moody’s, far higher than the 7.5 per cent threshold for broadly syndicated CLOs....
...faces its “first serious challenge” as tens of billions of dollars of loans underwritten at the top of the market in 2021 are strained by sharply higher interest costs and a slowing economy, analysts at Moody...
...However, rating agency Moody’s noted that the funds would not be released without “lender approval” or certain “amendments” to terms....
...Moody’s found that the interest coverage ratios on the Ares and Owl Rock funds’ loans — the earnings available to make interest payments — would eventually fall by about half....
...Moody’s analysts have warned that by year’s end, more than half of single-B minus rated US companies will not be generating enough cash to cover their capital expenditure while servicing their debt....
..., Moody’s expects [Citadel Securities’] profitability to remain robust due to its healthy market share across various asset classes and regions.”...
...“Issuers with weaker credit quality and near-term maturities may be attracted to private credit,” said Christina Padgett, head of leveraged finance at rating agency Moody’s....
...“[PC CLOs] is the market’s description,” says Jian Hu of Moody’s. “That term was invented this year. We still call these middle-market CLOs.”...
...Analysts with Moody’s, who are calling for an uptick in corporate defaults as economic growth cools, have separately warned that the lack of insight into the private credit market suggests “that the sector...
...“Risks remain tilted on the downside,” said Eric Chiang, economist at Moody’s Analytics....
...Moody’s estimates first-lien loan holders recovered about 95 cents on the dollar in restructurings from 1987 to 2019....
...SVB had turned to Goldman in late February to help it buttress its finances as the bank braced for a downgrade from credit rating agency Moody’s....
...But in hushed tones, investors and advisers have been increasingly warning DD’s Antoine Gara, Eric Platt and William Louch of trouble ahead. So how much of a bind is private equity in, really?...
...Moody’s has appointed global banking co-head Ana Arsov to the newly created role of global head of private credit as well as co-head of its financial institutions group....
...Moody’s has chimed in on the outlook for centralised and decentralised crypto platforms....
...ESG ratings look and sound like the familiar credit ratings produced by S&P, Fitch or Moody’s....
...“On one hand, it will help to anchor inflation and mitigate the impact of high price for imported goods,” Eric Chiang, associate economist at Moody’s Analytics, wrote....
...Additional reporting by Robert Smith in London and Eric Platt in New York...
...Among the picketers on Thursday was Eric Heisserer, whose screenwriting credits include the 2016 sci-fi film Arrival....
...Corporate defaults more than doubled from July to August, according to rating agency Moody’s....
...“While the bitcoin sell-off decelerates, the damage has been done,” wrote Eric Robertsen, global head of research at Asia-focused bank Standard Chartered, this week....
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