Leveraged risk: this time it’s different, says Fitch
The European leveraged credit market’s return to pre-financial crisis levels of valuations and leverage multiples does not come with as many risks as it did a decade ago, despite striking similarities in the market, according to Fitch.
Leveraged borrowers are ramping up activity with a range of jumbo trades such as the private equity buyout of German pharmaceutical company Stada Arzneimittel and the secondary buyout for German building materials company Xella.
Private equity buyouts hit €35.8bn for the first half of 2017,
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