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S&P Credit Research1216 word report
published May 14, 2009
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S&P Credit Research
| Abstract: | Last year, financial sponsors endured a contraction in deal making from prior-year levels, a rise in the number of portfolio companies seeking protection from creditor claims, and a collapse in the share price of many publicly traded funds. Now, by contrast, the environment is showing signs that the worst might be behind it. For example, two publicly traded financial sponsor firms— Blackstone and Fortress Investment Group LLC—recently reported better-than-expected financial results. In the case of Fortress, the firm announced pretax distributable earnings for the first quarter of $9 million ($0.02 per dividend-paying share) versus $58 million for the first quarter of 2008. For the recent period, Blackstone reported an economic net loss of $93 million compared with a loss of
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| Brief Excerpt: | RESEARCH Ratings Definitions Cross-Market Commentary: Is A Recovery In Private Equity Drawing Near? Publication date: 14-May-2009 Market, Credit, and Risk Strategies: Michael Thompson, Managing Director, New York (1) 212-438-3480;...
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| Report Type: | Commentary
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
