The credit bull market finally exhibited signs of fragility in the fourth quarter of 2018, putting the brakes on what had seemed poised to be another banner year for corporate borrowers. The skies may yet clear, but for savvy borrowers the New Year is a good time to prepare for turbulence. Looking ahead to 2019, we contemplate strategies for M&A in choppy financing markets, the practical impact of credit rating downgrades, and the risks posed by the rise of “default activism” in the debt markets.
The Financing Markets in 2018: A Sharp Transition
A Hot Start…
Through its first three … Read more