Posted on: August 3, 2010 by PEHub AdministratorNo Comments »
Ridgemont Equity Partners has formed as an independent private equity firm, staffed by the former Banc of America Capital Investors team. Ridgemont will continue to manage the legacy BACI portfolio on behalf of Bank of America, while also seeking to raise its own fund.
Posted on: November 20, 2009 by Erin GriffithNo Comments »
As usual, we have a week’s worth of ratings actions on the debt of LBO-backed companies from S&P and Moody’s Investors Service. This week was a busy one for downgrades and debt exchanges, with eight downgrades and one upgrade.
Company: Energy Future Holdings Corp.
Sponsor: Kohlberg Kravis Roberts & Co.
Action: S&P raised its corporate credit rating on EFH and its unregulated subsidiaries TCEH and EFCH to ‘B-’ from ‘SD’ and assigned a ‘B–’ corporate credit rating to EFIH. This rating action follows EFH’s recent announcement that it and its subsidiaries have completed the exchange of its $357 million of various securities within the entire capital structure.
Highlight: “These ratings reflect EFH’s consolidated creditworthiness post-exchange.” The outlook on these corporate credit ratings is negative, reflecting weak financials and increasing refinance risk.
Posted on: March 13, 2009 by Erin GriffithNo Comments »
As usual, I have a week’s worth of Moody’s and S&P downgrades on PE-backed companies. This week was a down week, with a mere four downgrades compared with last week’s , and one withdrawal – Fenway Partners’ suitcase maker, Targus Group. S&P also withdrew the rating for Pegasus Capital’s Merisant Worldwide, the sugar maker that went bankrupt last month.
Our downgraded company’s sponsors include ABRY partners, Banc of America Capital Investors, Generation Partners, and Welsh Carson.
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