All material subject to strictly enforced copyright laws. © 2022 Euromoney Institutional Investor PLC group

Senior high yield bonds do not equal bank debt, says Moody’s

European high yield bonds that rank pari passu with bank debt may not receive equal treatment in the case of a default because banks have more control over a company than bondholders, analysts at Moody’s argued this week.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Take a Free Trial or Login
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree