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...Its new fund — known as Strategic Investment Partners V — plans to buy risky debt, including junior loans and convertible bonds, as well as preferred stock....
...Further down the credit quality ladder, low-grade borrowers including Kinetic Holdings, automobile financing firm Credit Acceptance and residential mortgage company PennyMac Financial Services are among...
...Smart reads Blurred lines Two of Abu Dhabi’s biggest banks have reported billions of dollars in loans in recent years tied to their boards that include high-profile royal family members, The Wall Street...
...“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....
...He also extended a $30mn loan to a company registered in the name of Epstein’s private pilot. The company, Plan D LLC, owned a Gulfstream jet....
...Analysts at credit rating agency Moody’s said Citadel Securities had a “strong capital base, profitable track record during periods of varying market volatility, and solid risk management capabilities”....
...The non-bank mortgage market is highly fragmented, but there are a few big players, including Quicken Loans, PennyMac Financial, and United Wholesale Mortgage, with 5, 4 and 3 per cent of the total US mortgage...
...Rivals Fitch and Moody’s already rate the EU at triple A....
...According to data compiled by Moody’s, its index of high-yield bond covenant quality has been below its “weakest-level protection” threshold since late 2014....
...asset is the quality and integrity of our credit ratings / From Michael West, President, Moody’s Investors Service, New York, NY, US...
...Real estate, wholesalers and information services also saw marked increases compared with March 2019....
...Ana Botín, executive chairman of Santander, the eurozone’s largest lender, told a financial services conference in March that there was a possibility the bank would see only a 5 per cent drop in earnings...
...Separately, Moody’s Investors Service downgraded Ford’s credit rating to junk....
...over for leveraged loans?...
...Large companies, some of which are still trying to buy up assets overseas, are defaulting on loans....
...The deal tightens private equity’s grip on subprime consumer lending in the US, where Blackstone owns Lendmark Financial Services and Warburg Pincus owns Mariner Finance....
...“As long as investors keep buying these loans, there’s nothing really to put the brakes on,” says Derek Gluckman, a vice-president at Moody’s. “Things just keep getting worse.”...
...These conditions have enabled households to service their debt and banks to keep their loss rates low....
...SoftBank carries junk ratings of Ba1 and BB+ from Moody’s and S&P respectively, while the domestic Japan Credit Rating Agency pegs it far higher at an investment grade A- level....
...Rio missed a $46m debt service payment to the Inter-American Development Bank on September 9....
...EY has named Paul Reading as executive director in its operational transactions services team. He joins from luggage retailer Antler, where he was CFO....
...Kennedy School at Harvard University and managing principal of Broadmoor Consulting LLC. Lending Club’s Q3 2016 earnings call was a strange affair....
...The vehicles can invest in a wide range of assets — from loans to subordinated debt — while paying little or no corporate tax....
...The services sector remained in robust shape, with the non-manufacturing PMI also increasing from 52.7 in February to 53.8 in March....
...Prior to 2005, bond indices used the lower or more conservative of Moody’s/S&P credit ratings.”...
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