Why 60 is the New 80 for Leveraged Loans

Investors are increasingly valuing below investment grade corporate loans on their books at par, even when the loans change hands in the secondary market at prices once considered distressed.

IACPM: Worries Surge on Deteriorating Credit Conditions

A quarterly survey polling the opinions of credit managers show a “clear consensus” that credit conditions will worsen over the next three months.

Zink Firm Horsehead Defaults on Notes Coupon

Horsehead Holding Corp. has been hit with a selective default rating by Standard & Poor’s after the zinc producer missed a $1.9 million coupon payment on its $100 million convertible notes issue this week.

Moody’s, S&P Downgrade Sports Authority After Missed Payment

The company missed a $21 million interest payment due Jan. 15. It will have 30-days before it triggers an event of default.

How a Verso Ch. 11 Could Play Out for its Investors

The paper producer's could leave its debt holders with “weak recoveries”, Fitch Ratings said Wednesday.

Canadian Oil Sands Downgrade Still Possible

The $2.9 billion announced acquisition of Canadian Oil Sands Ltd. (COS) by A-rated Suncor Energy will not necessarily head off a potential downgrade of COS’ unsecured debt to junk status, according to Moody's.

PetroQuest Plans Distressed Debt Exchange

The exploration and production company is offering holders of its 10% senior notes due 2017 the opportunity to swap out the debt for a new bond, cash and stock.

S&P Bumps Down Ratings on Seventy Seven Energy

The rating agency has weighed in on the oilfield services providers plans to reduce its $1.6 billion debt load.

Moody’s: No Expected Slowdown for Spec-Grade Defaults

Widening spreads, commodity sector stress and China’s economic woes are all expected to drive the default rate for junk-rated companies even higher this year.

Arch Coal Files Chapter 11

The St. Louis company will eliminate more than $4.5 billion in debt under a restructuring agreement reached with lenders.