LBO Debt (Financial Times, 5 Nov 08)

Financial Times 5 Nov 08 LBO Debt (The Lex Column) Research from Garman Research is cited:"The level of distress in LBO bonds, defined as bond yield trading at 1,000 bp or more above the risk free rate,accelerated before the bulk of the credit sell-off.But now many high-yield issues, not just LBOs, are trading at distressed levels, implying default rates of about 18 percent, according to Garman Research."

LBO Debt (Financial Times, 5 Nov 08)

Financial Times 5 Nov 08 LBO Debt (The Lex Column) Research from Garman Research is cited:"The level of distress in LBO bonds, defined as bond yield trading at 1,000 bp or more above the risk free rate,accelerated before the bulk of the credit sell-off.But now many high-yield issues, not just LBOs, are trading at distressed levels, implying default rates of about 18 percent, according to Garman Research."