Here’s an alarming thought, from Moody’s: the credit rating agency reckons there are some 254 private equity backed companies in Europe with debt due to mature in the next two to three years, collectively owing €133 billion, and that at least a quarter of them are likely to default on their obligations.
US fills the debt gap?(2)
European companies have been tapping into new financing sources in the US, as banks in their own region pull in their horns. But will it be enough to save the dozens of private equity-backed businesses in danger of default?
