Gimme Credit News
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Last week’s court ruling against a group of Chesapeake Energy Corp. bondholders exposes another risk for investors seeking gains in a market where securities valuations are already at record highs.
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J.C. Penney Co. may need to pay more than the 135 cents on the dollar it offered today to tender bonds that can restrict the retailer’s debt load, according to Gimme Credit LLC.
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HCA Holdings Inc., the largest for- profit U.S. hospital chain, reported profit that missed analyst estimates as growth in patient visits continued to moderate.
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J.C. Penney Co.’s $254.5 million of bonds containing a provision that may restrict the retailer’s debt load surged after the company said proceeds of a new secured loan may be used to amend or acquire the notes.
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Terex Corp. is more likely to be a buyer than an acquisition target because of the cash pile the crane and excavator maker has amassed, Gimme Credit LLC said.
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Dynegy Inc., the third-largest independent U.S. power producer, and wireless operator Sprint Nextel Corp. are likely to underperform the high-yield bond market in the coming months, according to Gimme Credit.
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American Airlines is selling investment-grade debt even as it spends a 15th month in bankruptcy while bond buyers look ahead to the merger with US Airways Group Inc. that will create the world’s largest carrier.
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Wal-Mart Stores Inc. is winning the lowest borrowing costs this year as its AA credit rating offsets challenges from a corruption probe to reports of thinly stocked shelves.
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Smithfield Foods Inc. risks missing out on a 23 percent gain for shareholders by ignoring demands to sell its hog farms.
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Suntech Power Holdings Co., once the world’s biggest solar-panel maker, said it received a two- month forbearance on repaying $541 million of bonds as negotiations to restructure the debt continue.
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