brewer12345
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Mar 6, 2003
- Messages
- 18,085
The junk bond market has just completely jumped the shark. New issue: CCC-rated bonds that are pay-in-kind (means the issuer can at its option pay coupons with more crappy bonds instead of cash) and with the proceeds paid out to shareholders. Investors really are idiots.
TEXT-S&P assigns Petco Holdings 'B' rating | Reuters
TEXT-S&P assigns Petco Holdings 'B' rating | Reuters