Puerto Rico Reaches Deal Over $35B in Debt
The deal with supporting creditors “will reduce the amount of Commonwealth-related bonds outstanding to less than $12 billion.”
Kroger to Contribute up to $1B to Pension Plan
The contribution will "significantly address" the underfunding of the plan, which, as of Dec. 31, had a funding ratio of 75.8%.
Moody’s Downgrade Highlights China Fears
The rating agency says China's "financial strength will erode somewhat over the coming years" as a result of excessive economy-wide debt.
Emerging Markets Drive Debt to Record High
Global debt grew to $215 trillion, or 325% of global GDP, in 2016, with EM countries' debt more than tripling to $56 trillion over the past decade.
Household Debt Continues Slow Climb
U.S. consumers continue to enlarge their balance sheets with automobile and credit card loans, as well as mortgages.
S&P Signals Downgrade in U.K. Credit Rating
The "Brexit" will deter investment in the U.K.'s economy and put its financial sector at a competitive disadvantage, S&P predicts.
Assuring Lenders an Affiliate Transaction Is Fair
Doing a deal with an affiliate? Existing lenders or debtholders will require assurances that the transaction is carried out in arm’s-length fashion.
Venoco Files Chapter 11 Due to Oil Price Slump
The Denver company says the declining price of oil and the closure of a key pipeline "continue to be serious problems."
Aspect Software Files Bankruptcy to Cut Debt Load
The call-center software company plans to execute a restructuring that would eliminate $320 million in debt and equitize another $60 million.
Fitch Warns of Anheuser-Busch Debt Downgrade
The ratings agency says the brewer's bonds could be downgraded to junk if it acquires SABMiller with debt only.
Industry Downturn Sinks Dry Bulk Shipper
Global Maritime Investments has filed Chapter 11 bankruptcy due to decade-low charter rates for its ships.