W3Schools

Guitar Center bonds slide to record lows on concerns about company’s debt burden

Is the big leveraged buyout wave of 2005 to 2007 about to claim another victim?

Bonds issued by Guitar Center, the biggest retailer of musical instruments in the world, are languishing at record lows on growing concern that the company is going to be overwhelmed by its roughly $1 billion of outstanding bond debt, part of a debt burden that totals about $1.6 billion, once loans and other borrowings are included.

Read now:Sears tops list of retailers most vulnerable to defaulting on debt

Moody’s Investors Service earlier this month revised the outlook on its B2 rating to negative, meaning it could downgrade it further into junk territory in the medium term.

>>> Original Source <<<

Comentários