PREPA: 1st Circuit Holds Revenue Bonds Are Secured
Executive Summary On June 12, 2024, the U.S. Court of Appeals for the First Circuit…
Siobhan HodsonJune 13, 2024
US Weekly: Fading the Fed
Executive Summary Treasury Markets: The Treasury curve bear flattened as the 2Y rose 12 bp…
Sara LawalMay 31, 2024
Strategy: Stress Testing US HY Interest Coverage
Executive Summary With the US leveraged finance markets firmly back in business, we provide an…
Sara LawalMay 24, 2024
Golden Seahorse: Reinstatement & Default Interest
Executive Summary This note discusses a pending appeal arising out of the Golden Seahorse LLC…
Sara LawalMay 17, 2024
US Strategy: Private Credit 101 Slides
Executive Summary We were asked to present to a group of government officials in Washington…
Sara LawalMay 17, 2024
US HY vs. Lev Loan Fundamentals Comparison (4Q23)
Executive Summary: We provide an update to our US HY vs Leveraged Loan comparison for…
Sara LawalMay 10, 2024
FOMC Quick Take May 2024
Executive Summary: The Fed held its policy rate steady at 5.25-5.50%, as widely expected. The market…
Siobhan HodsonMay 3, 2024
Thames Water (Kemble): Uncharted Waters
Thames Water's funding negotiations falter amid regulatory pushback. Negotiations to smooth the injection of a…
Siobhan HodsonApril 5, 2024
Altice France: Screens Painted Red by SFR
Executive Summary Never much trusted by the HY market, Patrick Drahi’s Altice team plumbed new…
Siobhan HodsonMarch 22, 2024