By Kevin Wack
The report, titled "Alternative Lending through the Eyes of 'Mom & Pop' Small-Business Owners," marks the latest development in a recent push to make it easier for business owners to decipher and compare rapidly-expanding online credit offers.
August 31, 2015 – In July, the met coal producer, looking to delever, revealed plans to suspend its dividend and cut costs. Now, it may be considering a debt restructuring, according to reports.
August 31, 2015 – Five of the 11 offshore drilling companies put under review for a ratings downgrade by Moodys Investors Service this week have loans that are held in outstanding collateralized loan obligations, according to Wells Fargo.
August 31, 2015 – Following recent Chapter 11 filings from large coal producers Alpha Natural Resources and Walter Energy filed for bankruptcy protection, Joel Levitin, partner at law firm Partner, Cahill Gordon & Reindel LLP says companies in the sector should work to preserve liquidity to avoid the same fate.
August 31, 2015 – Of 278 issues being monitored by Standard & Poor's for their distressed standing, 95 are in the oil and gas sector and 45 are in metals/mining.
August 21, 2015 – TICC Capital Corp. and THL Credit have announced plans to exit their holdings; both cited the diminishing valuations of their own stock, which they attributed to a growing belief among shareholders that these securities are not an appropriate investment.
August 14, 2015 – The final rule, which mandates a 32% reduction in carbon emissions by 2030, will lessen the reliance on coal as an energy source. While it could be litigated, it adds to selling pressure on companies already struggling with heavy debt and low prices.
August 7, 2015 – With $153 billion in second-quarter secondary trading volume of speculative-grade loans, the market fell 3.5% below the first-quarter mark of $160 billion. But levels are still on pace to top $621 billion for the year slightly behind 2014s record $628 billion volume level.
July 28, 2015 – Small-business lenders and experts are beginning to debate whether the weeklong shutdown will underscore the program's bipartisan support or give its critics more ammunition to argue that it is too vulnerable to politics.
July 29, 2015 – The coal company said its term loan lenders are without merit in their efforts to block a distressed debt exchange with bond investors.
July 20, 2015 – The Securities & Exchange Commission published a no-action letter last week clarifying that CLOs originally issued before December 2014 can be refinanced and remain exempt from risk retention rules.
July 23, 2015 – Quarterly results are still coming in, but commercial lending has exceeded expectations at several large banks just as it has in so many quarters since the financial crisis.
July 17, 2015 – Besides the Greek bailout drama this month, the stock market plunge in China and the likelihood of interest-rate increases in the U.S. have escalated concerns among credit portfolio managers on widening spreads and increasing numbers of defaults.
Firm: Guggenheim Securities
In the news: Guggenheim Securities Brings On Restructuring Expert