Moody's forecasts €33bn+ LBO default

The struggling European economy and stricken banking system have led Moody's to issue the warning that over 25% of Europe's €133bn unrated LBO debt pile could default in the next three years.

Furthermore, if Europe's high-yield bond market shuts down for extended periods during the next few years, the default rate could double, Moody's said.

Though the warning did not list specific companies with unrated debt, it is thought the UK will see the biggest chunk of debt that will need to be refinanced, worth about €54bn, with Germany and France following.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Financing
• Moody's