The credit crunch in leveraged loan markets is being triggered by more than the recent collapse of the subprime mortgage markets, according to Tom Watters, Standard & Poor's senior director and team leader in corporate and government ratings. "We have been in a bull market for the last four and a half years in the credit market. Leveraged buy-outs, private-equity firms and mega-merger and acquisition deals fueled the market. But this all came to a crashing halt in the third quarter," Watters told attendees at S&P's annual oil and gas industry conference in Houston recently.
Recommended Reading
BP Cuts Over 5% of Workforce to Reduce Costs
2025-01-16 - BP will cut over 5% of its global workforce as part of efforts to reduce costs and rebuild investor confidence.
SM Energy Adds Petroleum Engineer Ashwin Venkatraman to Board
2024-12-04 - SM Energy Co. has appointed Ashwin Venkatraman to its board of directors as an independent director and member of the audit committee.
Baker Hughes Wins Contracts for Woodside’s Louisiana LNG Project
2024-12-30 - Bechtel has ordered gas technology equipment from Baker Hughes for the first phase of Woodside Energy Group’s Louisiana LNG development.
Chevron Names Laura Lane as VP, Chief Corporate Affairs Officer
2025-01-13 - Laura Lane will succeed Al Williams in overseeing Chevron Corp.’s government affairs, communication and social investment activities.
Plains All American Prices First M&A Bond of Year
2025-01-13 - U.S. integrated midstream infrastructure company Plains All American Pipeline on Jan. 13 priced a $1 billion investment-grade bond offering, the year's first to finance an acquisition.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.