CreditSights News & Blog

At Dish Network, a bondholder vs. shareholder fight is brewing Axios

At Dish Network, a bondholder vs. shareholder fight is brewing

There is no doubt that, as financing becomes harder for stressed issuers to access, they'll…

Georgia ShenkArticle published date: January 25, 2024

Insurers Rake In Profits as Customers Pay Soaring Premiums Wall Street Journal

Insurers Rake In Profits as Customers Pay Soaring Premiums

The pain for home- and auto-insurance customers is quickly becoming investors’ gain. Insurance giants’ shares…

Georgia ShenkArticle published date: January 25, 2024

EMEA Insight: Too small for the limelight, too risky for most, Europe’s lower mid-market is wide open for business in 2024 LevFin InsightsSpecial Situations

EMEA Insight: Too small for the limelight, too risky for most, Europe’s lower mid-market is wide open for business in 2024

Direct lenders in Europe’s lower middle market are sitting pretty going into 2024. While their…

Siobhan HodsonArticle published date: January 18, 2024

U.S. Secondary: DISH Bonds Plunge in Huge Volume as EchoStar Evaluates Strategic Alternatives and Carves Out Wireless Spectrum Asset Transfer to Subsidiary to Enhance Liquidity Transactions LevFin InsightsSpecial Situations

U.S. Secondary: DISH Bonds Plunge in Huge Volume as EchoStar Evaluates Strategic Alternatives and Carves Out Wireless Spectrum Asset Transfer to Subsidiary to Enhance Liquidity Transactions

Debt backing DISH Network was significantly lower in high-volume trading this morning after EchoStar announced that it…

Siobhan HodsonArticle published date: January 10, 2024

U.S. Market Commentary: Distressed Exchanges May Be on Tap and New Spectrum-Backed Deal Expected after Substantial Assets Shift in Dish/EchoStar, Says CreditSights/Covenant Review in Joint Research LevFin InsightsSpecial Situations

U.S. Market Commentary: Distressed Exchanges May Be on Tap and New Spectrum-Backed Deal Expected after Substantial Assets Shift in Dish/EchoStar, Says CreditSights/Covenant Review in Joint Research

LFI partner publications CreditSights and Covenant Review today authored a joint report to describe the Dish/EchoStar transaction announced today, discuss what…

Siobhan HodsonArticle published date: January 10, 2024

U.S./EMEA A&E: NEP A&E Puts Unextended Debt Second in Line for Disposal Proceeds; Materially Improves Documentation on Extended Debt LevFin InsightsSpecial Situations

U.S./EMEA A&E: NEP A&E Puts Unextended Debt Second in Line for Disposal Proceeds; Materially Improves Documentation on Extended Debt

Lenders have until Friday to work through the A&E request for Carlyle-owned NEP as the broadcast and…

Sara LawalArticle published date: December 13, 2023

U.S./EMEA Special Situations: Covis Likely to Face a Second Round of Restructuring, Moody’s Warns in Knocking Rating Down to Caa3 from CaaK LevFin InsightsSpecial Situations

U.S./EMEA Special Situations: Covis Likely to Face a Second Round of Restructuring, Moody’s Warns in Knocking Rating Down to Caa3 from CaaK

Covis Pharma's ongoing EBITDA reductions have led to weak cash flow since the company's restructuring…

Siobhan HodsonArticle published date: December 26, 2023

U.S. Bankruptcy: Incora Judge Braces Parties for Upcoming LME Ruling; Adversary Case, UCC Settlement Stay in Limbo LevFin InsightsSpecial Situations

U.S. Bankruptcy: Incora Judge Braces Parties for Upcoming LME Ruling; Adversary Case, UCC Settlement Stay in Limbo

The settlement Incora reached earlier this week with the UCC and Carlyle, holder of an uptiered 1.25 lien…

Siobhan HodsonArticle published date: January 5, 2024

U.S. Special Situations: Robertshaw raises new $218mn first out facility alongside additional $10mn second out facility, S&P notes in downgrade to SD LevFin InsightsSpecial Situations

U.S. Special Situations: Robertshaw raises new $218mn first out facility alongside additional $10mn second out facility, S&P notes in downgrade to SD

Range Parent (dba Robertshaw) has raised a new $218 million first out facility and an additional $10…

Siobhan HodsonArticle published date: December 20, 2023

Special Feature: Disqualified Lender provisions in the Spotlight Creditor Rights Coalition

Special Feature: Disqualified Lender provisions in the Spotlight

Contributors Justin Forlenza, Sid Levinson, James Millar & Paul Silverstein take on DQ provisions...

Siobhan HodsonArticle published date: December 20, 2023

SVB: Update on Bankruptcy Progress CreditSights

SVB: Update on Bankruptcy Progress

Executive Summary In this note we provide an update on certain activity in the SVB…

Siobhan HodsonArticle published date: December 14, 2023

Lens on Loopholes Q3 2023 Update: Share of Index Loans with J. Crew / Serta / Chewy / Envision Loopholes Across the Index and a Breakdown by Sponsor Group LevFin Insights

Lens on Loopholes Q3 2023 Update: Share of Index Loans with J. Crew / Serta / Chewy / Envision Loopholes Across the Index and a Breakdown by Sponsor Group

. This report updates the share of the Credit Suisse Leveraged Loan Index with high-profile…

Siobhan HodsonArticle published date: October 11, 2023

U.S. Special Situations: Michaels Lays Foundation for Potential LME; Same-Store Sales Fall 7% in Q3’23 as EBITDA Beats Expectations–Update LevFin InsightsSpecial Situations

U.S. Special Situations: Michaels Lays Foundation for Potential LME; Same-Store Sales Fall 7% in Q3’23 as EBITDA Beats Expectations–Update

  Michaels Stores’ stoked LME concerns in the market today when, in conjunction with the…

Siobhan HodsonArticle published date: December 5, 2023

U.S. Bankruptcy: WeWork Nets First Day Approval, Seeks to Protect Customer Identities; Landlords Attempt to Depose CEO LevFin Insights

U.S. Bankruptcy: WeWork Nets First Day Approval, Seeks to Protect Customer Identities; Landlords Attempt to Depose CEO

WeWork won interim approval from Judge John Sherwood of the New Jersey Bankruptcy Court for all…

Siobhan HodsonArticle published date: November 8, 2023

U.S. Market Commentary: Surprise to Downside on October CPI is ‘Very Welcome Development’ for Fed Policymakers, Per CreditSights ‘US Chart of the Day: CPI Heatmap October 2023’ LevFin Insights

U.S. Market Commentary: Surprise to Downside on October CPI is ‘Very Welcome Development’ for Fed Policymakers, Per CreditSights ‘US Chart of the Day: CPI Heatmap October 2023’

The following is an excerpt from today's report from LFI partner publication CreditSights titled "US Chart of…

Siobhan HodsonArticle published date: November 14, 2023

Lumen: Updated Views on TSA CreditSightsSpecial Situations

Lumen: Updated Views on TSA

This report contains a summary of the pending LME transactions, its impact (if the transactions…

Siobhan HodsonArticle published date: November 6, 2023

U.S. Trendlines: New-Issue Private Credit Covenants Strengthen in YTD, with Cov-Lite Share Down Covenant Review

U.S. Trendlines: New-Issue Private Credit Covenants Strengthen in YTD, with Cov-Lite Share Down

Covenant protections for new-issue private credit loans (PCs) have improved in 2023 amid tighter lending…

Siobhan HodsonArticle published date: November 9, 2023

U.S. Special Situations: SVP Lenders Tap Counsel LevFin InsightsSpecial Situations

U.S. Special Situations: SVP Lenders Tap Counsel

SVP Worldwide’s term loan lenders have been consulting with counsel from Paul Hastings amid concerns the…

Siobhan HodsonArticle published date: October 30, 2023

Make Wholes and More: Third Circuit Considers Hertz CreditSightsSpecial Situations

Make Wholes and More: Third Circuit Considers Hertz

Introductory Note On May 2, 2023, we issued a note entitled Make-Wholes in Bankruptcy: A General…

Siobhan HodsonArticle published date: October 26, 2023

U.S. Insight: Amneal Pins TL Extension Effort on Enhanced Collateral Package LevFin Insights

U.S. Insight: Amneal Pins TL Extension Effort on Enhanced Collateral Package

Amneal Pharmaceuticals’ proposed $2.544 billion term loan extension hinges on a novel approach giving extending…

Siobhan HodsonArticle published date: October 26, 2023