Yell buyback classified as selective default despite improving corporate credit profile
Moody’s and Standard & Poor’s said they consider UK directories company Yell’s purchase of £137.5m of its own loans for £48.1m as a default, even though the liability management contributes to relieving the company’s large debt burden.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ European securitization issuance database
- ✔ Daily newsletters across markets and asset classes
- ✔ 1 weekly securitization podcast
