Credit Trends: Born This Way: Acceptance Grows For New Speculative-Grade Companies Through 30 Years Of LBOs, Bank Loans, And Falling Interest Rates - S&P Credit Research

Credit Trends: Born This Way: Acceptance Grows For New Speculative-Grade Companies Through 30 Years Of LBOs, Bank Loans, And Falling Interest Rates

5464 words — Published Jan 12, 2012
Price $850.00  |  Buy this Report Now

About This Report

  
Abstract:

As high-yield debt has gained acceptance, LBOs have become more prominent since the early 1980s. Bryan Burrough and John Helyar, in their book "Barbarians At the Gate," immortalized this kind of debt-fueled, private takeover of a public company. The book recounts the $31 billion takeover battle for RJR Nabisco that closed in 1989. As the "leveraged" in LBO implies, these deals include high levels of debt and credit risk that seldom fit an investment-grade credit profile. Since the 1980s, LBOs have gone through cycles of popularity, with buyouts growing in size and scope each cycle. The Nabisco takeover remained the largest LBO for nearly two decades until the resurgence of large takeovers in 2006-2007 when LBOs such as HCA Inc.

  
Brief Excerpt:

RESEARCH Credit Trends: Born This Way: Acceptance Grows For New Speculative-Grade Companies Through 30 Years Of LBOs, Bank Loans, And Falling Interest Rates Publication date: 12-Jan-2012 Global Fixed Income Research: Diane Vazza,...

  
Report Type:

Commentary

Sector
Global Issuers, Public Finance, Structured Finance
Format:
HTML HTML
Buy Now

S&P Credit Research—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.

About the Author


Cite this Report

  
MLA:
S&P Credit Research. "Credit Trends: Born This Way: Acceptance Grows For New Speculative-Grade Companies Through 30 Years Of LBOs, Bank Loans, And Falling Interest Rates" Jan 12, 2012. Alacra Store. Dec 18, 2014. <http://www.alacrastore.com/s-and-p-credit-research/Credit-Trends-Born-This-Way-Acceptance-Grows-For-New-Speculative-Grade-Companies-Through-30-Years-Of-LBOs-Bank-Loans-And-Falling-Interest-Rates-930154>
  
APA:
S&P Credit Research. (). Credit Trends: Born This Way: Acceptance Grows For New Speculative-Grade Companies Through 30 Years Of LBOs, Bank Loans, And Falling Interest Rates Jan 12, 2012. New York, NY: Alacra Store. Retrieved Dec 18, 2014 from <http://www.alacrastore.com/s-and-p-credit-research/Credit-Trends-Born-This-Way-Acceptance-Grows-For-New-Speculative-Grade-Companies-Through-30-Years-Of-LBOs-Bank-Loans-And-Falling-Interest-Rates-930154>
  
$850.00
$  £  
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Residential Mortgage-Backed Securities from one place.