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>> TIME, INC. Latest News

SEP 28, 2013 - Zero Hedge

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It's A PIK Toggle Credit Bubble, But "This Time It's Different" Says Moody's

Two weeks ago we first pointed out that as a result of the quiet creep in high grade leverage to fresh record high levels, the resurgence in PIK Toggle debt for LBOs and otherwise, means that the credit bubble is now worse than ever and that the next credit crisis will make 2007 seem like one big joke. Recall that nearly 80% of PIK issuers made a PIK election during the last downturn, "paying" by incurring even more debt and in the process resulting in huge impairments to those yield chasing "investors" who knew they were going to lose money but had no choice - after all, the "career risk." ... Read More

Tags: It's A PIK Toggle Credit Bubble, But "This Time It's Different" Says Moody's,  Time, Inc. Latest News