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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

Banks in Exelon Boston Generating's (EBG) $1.25 billion non-recourse loan facility have started prep work for taking control of the 2,400 MW generation portfolio from sponsor Exelon Corp. by hiring consulting firms to assess the value of the plants. Exelon last week signaled that it is looking to hand the plants back to the banks and will be writing off its $700 million equity investment.

This chart, provided by Citibank/Salomon Smith Barney Inc., tracks bid-ask prices for par credit facilities that trade in the secondary market. It also tracks facility amounts, ratings, pricing and maturities.

Wyndham International's bank debt slumped in the secondary loan market last week. Traders said the company's "B" loan traded down roughly four points into the 841/2 range from the 881/4 context where it was moving two weeks ago. Pressure on the paper came from market technicals rather than credit fundamentals, the traders explained. There are more sellers than buyers and "storied" names were receiving a dose of pressure last week, one dealer noted.

Moody's Investors Service has placed AFC Enterprises' debt, including its Ba2-rated $275 million credit facility, under review for possible downgrade as the company approaches an August 22 deadline to file its financial results or face a possible technical bank loan default. AFC is currently in the midst of an audit committee investigation and ongoing audit, and has yet to file its annual report for the 2002 fiscal year or complete financial restatement for fiscal years 2001 and 2000. Calls to Gary Hunt, AFC's v.p. and treasurer, were not returned by press time.

AMSTED Industries has leading niche positions in certain vehicular, construction and industrial markets. It is also the market leader in the undercarriage of freight cars in North America, says Standard & Poor's. S&P rated the $525 million credit for the diversified manufacturer of industrial components--primarily to the railroad, vehicular, and the construction and building markets--at BB-. AMSTED's leading market positions are "a reflection of the longstanding customer relationships [that AMSTED has] with multi-year agreements," added Linli Chee, an S&P analyst, explaining that AMSTED has long-term contracts with customers that receive a broad product base, technical expertise and ample manufacturing capacity from the company. AMSTED holds the number one or two positions for most of its products, she noted.

Credit Suisse First Boston, J.P. Morgan and Bank of America are scheduled to launch retail syndication of Zimmer Holdings' $1.75 billion credit this Wednesday. The deal backs the orthopedic product company's approximately $3.22 billion acquisition bid for Centerpulse. The credit went out to managing agents three weeks ago, a banker familiar with the deal said, adding that there has been a positive response so far at this level. He did not cite commitment levels or any new lenders that have joined the facility.