Moody's advises to beware of LBO-deals.

Source: Marketwatch
According to Moody's, at least 25% of 254 unrated European LBOs with overall debts of EUR 133 billion risk defaulting on refinancing their debts. Evidence shows that 36 companies have aggregated more than half the total debt with time to maturity through 2015. Each of these companies has liabilities of over EUR 1 billion. Investors expect that many larger companies will try to use high-yield bonds for refinancing, but will have to be creditworthy enough. Moody's Investors Service said that access to European and U.S. markets of high-yield bonds will probably stay in "windows".

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Tue, 29 May 2012 10:19:01 GMT

Spanish retail sales down annual 9.8%

Spain calendar-adjusted retail sales plunged 9.8 percent in April on annual basis. This is the sharpest decline since March 2011. Spain is in recession since the housing bubble burst. Borrowing rates have surged record high, and banks are especially under pressure, due to their exposure to housing markets and bad loans.

Tue, 29 May 2012 11:47:02 GMT

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