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Article: Correction- Fitch: Possibility of Covenant Breaches Mixed for Largest U.S. Speculative Grade Issuers.
- Article from:
- Health & Beauty Close-Up
- Article date:
- October 6, 2009
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This is an amended version of a press released issued Sept. 29, and provides additional commentary on companies named in the report.
There is a mixed likelihood of a debt covenant breach among the largest U.S. speculative grade issuers, according to a Fitch Ratings' analysis.
Fitch analyzed the liquidity position for more than 30 of the largest issuers of leveraged loans and high yield bonds. Fitch also determined how close these companies were to breaching the most restrictive covenant contained in their credit agreements or bond indentures.
Fitch's analysis found that near-term liquidity is adequate for most of these large debt issuers. A ...