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. Please contact custserv@hartenergy.com with any questions, or call 713-260-6442

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