(Bloomberg) -- The risk of owning corporate bonds
rose in the U.S. and Europe after Bear Stearns Cos., the manager
of two hedge funds that collapsed last month, had its debt-
rating outlook cut to negative by Standard & Poor's.
The failure of the Bear Stearns funds, which invested in
subprime mortgage-related bonds, triggered a flight from the
riskiest debt that spurred some lenders to balk at financing
leveraged buyouts. Deutsche Bank AG, JPMorgan and six more banks
today canceled the sale of 1 billion pounds ($2 billion) of
loans for Kohlberg Kravis Roberts & Co.'s LBO of U.K. drugstore
chain Alliance Boots Plc after failing to find investors, two
people with direct knowledge of the deal said.
Read more at Bloomberg Bonds News
rose in the U.S. and Europe after Bear Stearns Cos., the manager
of two hedge funds that collapsed last month, had its debt-
rating outlook cut to negative by Standard & Poor's.
The failure of the Bear Stearns funds, which invested in
subprime mortgage-related bonds, triggered a flight from the
riskiest debt that spurred some lenders to balk at financing
leveraged buyouts. Deutsche Bank AG, JPMorgan and six more banks
today canceled the sale of 1 billion pounds ($2 billion) of
loans for Kohlberg Kravis Roberts & Co.'s LBO of U.K. drugstore
chain Alliance Boots Plc after failing to find investors, two
people with direct knowledge of the deal said.
Read more at Bloomberg Bonds News
No comments:
Post a Comment