CreditSights News & Blog

Strategy: Stress Testing US HY Interest Coverage CreditSights

Strategy: Stress Testing US HY Interest Coverage

Executive Summary With the US leveraged finance markets firmly back in business, we provide an…

Sara LawalArticle published date: May 23, 2024

Golden Seahorse: Reinstatement & Default Interest CreditSights

Golden Seahorse: Reinstatement & Default Interest

Executive Summary This note discusses a pending appeal arising out of the Golden Seahorse LLC…

Sara LawalArticle published date: May 14, 2024

US Bankruptcy: Diamond Sports announces progress in chapter 11 despite Comcast impasse; MLB, NBA, NHL sound alarm LevFin Insights

US Bankruptcy: Diamond Sports announces progress in chapter 11 despite Comcast impasse; MLB, NBA, NHL sound alarm

Related Documents: MLB statement Motion to assume – DirecTV  Exhibit A  Diamond Sports held a status…

Sara LawalArticle published date: May 15, 2024

US Strategy: Private Credit 101 Slides CreditSights

US Strategy: Private Credit 101 Slides

Executive Summary We were asked to present to a group of government officials in Washington…

Sara LawalArticle published date: May 10, 2024

U.S. Trendlines: New-Issue Spreads Narrow in November, but Terms Tighten as Mix Shifts to Corporate Loans Covenant ReviewLevFin Insights

U.S. Trendlines: New-Issue Spreads Narrow in November, but Terms Tighten as Mix Shifts to Corporate Loans

New-Issue Spreads Narrow in November, but Terms Tighten as Mix Shifts to Corporate Loans Loans…

Siobhan HodsonArticle published date: December 4, 2023

Thames Water (Kemble): Uncharted Waters CreditSightsSpecial Situations

Thames Water (Kemble): Uncharted Waters

Thames Water's funding negotiations falter amid regulatory pushback. Negotiations to smooth the injection of a…

Siobhan HodsonArticle published date: March 28, 2024

CR TrendLines Topical Report: New-Issue Private Credit Terms Trended Sideways in 2023; Cov-Lite Share Falls Covenant Review

CR TrendLines Topical Report: New-Issue Private Credit Terms Trended Sideways in 2023; Cov-Lite Share Falls

Covenant protections for new-issue private credit loans (PCs) flatlined in 2023 compared with 2022 even…

Siobhan HodsonArticle published date: February 13, 2024

Liability Management Transactions: Quarterly Update Through Q3 2023 Covenant Review

Liability Management Transactions: Quarterly Update Through Q3 2023

The Bottom Line:™ Borrowers and issuers have been engaging in “Liability Management Transactions” with increasing…

Siobhan HodsonArticle published date: December 5, 2023

U.S. Bankruptcy: Secured Creditor Lavvan Appeals Amyris DIP to District Court LevFin Insights

U.S. Bankruptcy: Secured Creditor Lavvan Appeals Amyris DIP to District Court

Amyris secured creditor Lavvan has appealed to the U.S. District Court for the District of Delaware…

Siobhan HodsonArticle published date: October 30, 2023

US/EMEA Special Situations: Medical Properties Trust – Risk Primer LevFin InsightsSpecial Situations

US/EMEA Special Situations: Medical Properties Trust – Risk Primer

Medical Properties Trust’s largest tenant, Steward Health Care, filed for chapter 11 bankruptcy protection in Houston…

Sara LawalArticle published date: May 8, 2024

US HY vs. Lev Loan Fundamentals Comparison (4Q23) CreditSights

US HY vs. Lev Loan Fundamentals Comparison (4Q23)

Executive Summary: We provide an update to our US HY vs Leveraged Loan comparison for…

Sara LawalArticle published date: May 9, 2024

CreditSights Wins Best Credit Investment Research/Data at European Markets Choice Awards News FeatureBlog

CreditSights Wins Best Credit Investment Research/Data at European Markets Choice Awards

CreditSights, a leading independent credit research firm and Fitch Solutions company, has been awarded “Best…

Siobhan HodsonArticle published date: July 17, 2023

Altice USA Debt Tumbles as Management Hints at Potential LME, Creditor Group Swells LevFin InsightsSpecial Situations

Altice USA Debt Tumbles as Management Hints at Potential LME, Creditor Group Swells

Altice USA’s debt faltered after management comments on this morning’s Q1’24 earnings call heightened concerns…

Siobhan HodsonArticle published date: May 2, 2024

FOMC Quick Take May 2024 CreditSights

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 HodsonArticle published date: May 1, 2024

JOANN unanimous confirmation support slices debt by half with DIP lenders in majority control LevFin InsightsBankruptcy

JOANN unanimous confirmation support slices debt by half with DIP lenders in majority control

Related Documents: Chapter 11 plan Disclosure statement JOANN’s chapter 11 plan was confirmed today in the Delaware…

Siobhan HodsonArticle published date: April 25, 2024

Adler set for restructuring round two as German real estate downturn lasts longer than expected; hopes to complete BCP stake sale by year-end LevFin InsightsSpecial Situations

Adler set for restructuring round two as German real estate downturn lasts longer than expected; hopes to complete BCP stake sale by year-end

Adler CEO Thierry Beaudemoulin said on today's FY 2023 results call that adverse market conditions in…

Siobhan HodsonArticle published date: April 25, 2024

LSTA-DealCatalyst Private Credit Conference: 26North’s Brendan McGovern discusses investor constituencies, growth of asset class LevFin Insights

LSTA-DealCatalyst Private Credit Conference: 26North’s Brendan McGovern discusses investor constituencies, growth of asset class

LevFin Insights is working with the organizers of Private Credit Industry Conference on Direct Lending and Middle…

Sara LawalArticle published date: April 23, 2024

Liability Management Transactions: Quarterly Update Through Q1 2024 Covenant Review

Liability Management Transactions: Quarterly Update Through Q1 2024

The Bottom Line: Borrowers and issuers have been engaging in “Liability Management Transactions” with increasing…

Siobhan HodsonArticle published date: April 17, 2024

Smaller Syndicated Loans Coming Due May Provide Fertile Ground for Direct Lenders’ Dealflow LevFin Insights

Smaller Syndicated Loans Coming Due May Provide Fertile Ground for Direct Lenders’ Dealflow

Private credit’s growth has for many institutional investors effectively raised the minimum tranche size in…

Siobhan HodsonArticle published date: April 17, 2024

First-Lien Debt Recovery Prospects Deteriorate for Broadly Syndicated and Middle Market Issuers, Fitch Says LevFin InsightsSpecial Situations

First-Lien Debt Recovery Prospects Deteriorate for Broadly Syndicated and Middle Market Issuers, Fitch Says

First-lien debt recovery prospect expectations have deteriorated for broadly syndicated (BSL) and middle market (MM)…

Siobhan HodsonArticle published date: April 11, 2024