Bankruptcy

Apparent ABF fraud hits BlackRock’s HPS

The world’s largest asset manager and its recently acquired private credit business are among the victims of the alleged fraud by entities now in bankruptcy.

Auto lending takes another hit: PrimaLend

Chapter 11 filing comes the day after Bank of England Governor discusses US auto loans with the House of Lords.

The bankruptcy blame game

Signs of credit stress are emerging, but there are different views over its relevance for the private debt market.

First Brands bankruptcy prompts questions over private credit exposure

The Ohio-based concern’s term loans were primarily underwritten and syndicated by investment banks.

First Brands Group bankruptcy: Two rating firms say ‘don’t panic’

CLO structures act as a firebreak by limiting concentrations of assets from any one obligor, Moody’s says

First Brands, in chapter 11, discloses over $11bn of liabilities

A number of private credit firms have exposure to the latest instance of trouble in the auto and auto-parts industries.

Mid-market loan recoveries, large corporates, converge

Average mid-market loan and revolver recoveries are down to 66% on a trailing five-year basis.

Tricolor failure could prompt scrutiny of ABF

The collapse of the US auto lender was a talking point at this week’s PDI Network New York Forum.

Market conditions: Default picture lacks clarity

Should borrowers and lenders be worried about default rates?

Bar Louie returns to bankruptcy court

Antares Capital is said to have exited its equity position earlier this year.