Kendra Smith

Sears Escapes Distressed Class in Cash Quest: Corporate Finance

Sears Holdings Corp.’s bonds returned almost three times the average of its peers this year as the retailer sold assets and bolstered cash balances after debt fell to distressed levels at the end of 2011.

DirectBuy Defaults on Bonds After Missing Payment, S&P Says

DirectBuy Holdings Inc. defaulted on $335 million of bonds after the consumer club missed a Feb. 1 interest payment, according to Standard & Poor’s.

DirectBuy in Talks With Bondholders Over Debt Restructuring

DirectBuy Holdings Inc. is negotiating with a committee that includes a “substantial majority” of investors in its $335 million of senior bonds to restructure the consumer club’s balance sheet.

Moody’s Cuts Seneca Gaming Rating as Tribe Disputes State Fee

Moody’s Investors Service downgraded Seneca Gaming Corp. and $500 million of its senior unsecured debt as the casino operator disputes New York state’s claim that it owes $214 million in overdue fees for its gambling business.

Liz Claiborne Markets Bonds to Fund Euro-Note Tender Offer

Liz Claiborne Inc. , the maker of Lucky Brand and Juicy Couture apparel, plans to sell $200 million of debt in dollars to fund a tender offer for euro- denominated securities.

SABMiller Sells $7 Billion of Debt in Biggest Sale in 2 Years

SABMiller Plc, the world’s second- biggest brewer by volume, issued $7 billion of debt in the largest U.S. bond sale since 2010 as it seeks to pay back debt tied to last year’s acquisition of Foster’s Group Ltd.

Standard & Poor's

New York

U.S. Stocks, Dollar Rise as Data Fuel Economic Confidence

Gold Heads for Longest Slump in Four Years on Fed, Dollar

‘Star Trek’ $112 Million Open to Put Summer in Warp Drive

Exiting IRS Chief Denies Targeting as Republicans Pounce

Taiwan Directs Anger at Philippines as Ma Frustration Simmers