Credit investors see “cascade of stupidity” over US earning definitions

Borrowers and sponsors are becoming much more aggressive in redefining earnings in order to attract financing, attendees at the Creditflux Private Credit conference heard yesterday

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TAGS: Creditflux event North America Direct lending

Comment by: Anonymous. Posted 28 days ago [2017-06-23 15:43:06]

Good analysts trust their own (rather than the borrower's) metrics. Just don't let the "stupidity cascade" be enshrined in the loan covenants!