(Reuters) - In recent years, ballooning legions of hedge funds have
supplanted banks as major sources of credit for companies
through direct loans and the purchase of tradable bank and
high-yield debt.
But as today's business cycle turns, debt-laden companies
will find the new breed of creditors less forgiving than banks
in forging successful reorganizations, forcing more to
liquidate after costly legal battles, senior executives of some
of the top restructuring advisory firms said at conference.
Read more at Reuters.com Bonds News
supplanted banks as major sources of credit for companies
through direct loans and the purchase of tradable bank and
high-yield debt.
But as today's business cycle turns, debt-laden companies
will find the new breed of creditors less forgiving than banks
in forging successful reorganizations, forcing more to
liquidate after costly legal battles, senior executives of some
of the top restructuring advisory firms said at conference.
Read more at Reuters.com Bonds News
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