KKR Financial records $1.1bn loss for 2008

The publicly listed debt affiliate of Kohlberg Kravis Roberts has suspended its dividend to shareholders through 2009 as it tries to bolster its liquidity.

KKR Financial, a listed affiliate of Kohlberg Kravis Roberts that invests in debt, reported a $1.1 billion loss for the full-year 2008 that included a $226 million default of corporate loans issued by the Tribune Company, which collapsed into bankruptcy in December.

The company, which reported its full-year results Monday, said it was suspending its dividend through 2009.

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