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...Leverage has been applied ‘downstream’ at the portfolio company level, ‘upstream’ with recourse to GPs and LPs, and ‘midstream’ to the funds that own portfolio companies in the form of NAV loans....
...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....
...At some point, these companies won’t be able to keep servicing their debts. Base rate + 800 bps is a lot easier to handle when rates are near zero than at 4-6 per cent....
...Private equity’s presence in US medical care has also come under growing scrutiny from industry watchdogs....
...At some point, these companies won’t be able to keep servicing their debts....
...That is what property buyers say if they do not care if their house has rising damp or leaky plumbing. Stories about HSBC switching its headquarters to Hong Kong are perennial....
...“I don’t care if they come,” the finance minister said, referring to the lender’s ninth review, which has not been completed. “I don’t have to plead before them.”...
...Young people in care There is another group that deserves particular attention, which is children in care....
...The announcement, made days before Tiger notified LPs of its fundraising push, said that Curtius would stay for a months-long transition....
...At the same time, an analysis by Bloomberg found that its affiliates claimed at least $60m in government loans meant to support cash-strapped healthcare groups during the pandemic....
...“It looks like economic suicide if Microsoft makes the franchise exclusive to its own platform, but they may not care if it makes their platform stronger,” said David Gibson, an analyst at MST Financial....
...Sunak is right to worry about the billions which will still be spent on servicing the national debt....
...“You have lower revenues, rising costs and deteriorating loan quality.”...
...The other is to say that what matters is not the debt’s size but the cost of servicing it — and, measured by that yardstick, Italy poses virtually no threat at all....
...The new health and social care levy will apply to dividends but the 2024 tax cut will not, says accountancy firm RSM....
...Buoyant government receipts have so far outweighed higher servicing costs of government debt....
...The state-owned bank will loan £107m for the South Bank Quay project — on the site of an old steelworks — providing facilities for servicing the offshore wind sector, manufacturing and storage....
...The Treasury claims that a 1 percentage point rise in inflation and interest rates could increase debt servicing costs by £25bn....
...“If right now there’s a house worth $1m and I can buy it for [a lot less], I don’t care what your credit is at that point. You know somebody somewhere will finance you.”...
...The pet care industry in China is still in the early stages....
...In the days when people bought cars with bank loans, the question of residual values was a niche concern. Now, it is key....
...Usually, profitability only comes over a period of years after accruing fees for “servicing” the mortgage by collecting payments, distributing them to mortgage securities holders and taking care of the paperwork...
...Do the shoots we care about have deep roots, or shallow ones?...
...The agreed “Cares Act” intended as a bridge from the pandemic to just past the election had a lot of defects from the mortgage industry’s point of view....
...Glen Tullman, the founder of Livongo (pictured below), said the deal would create a “leader in consumer-centred virtual care”. It’s a hefty bet....
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