22 min listen
Altice ‘Jenga Tower’ Menaces Global Credit Markets
Altice ‘Jenga Tower’ Menaces Global Credit Markets
ratings:
Length:
36 minutes
Released:
Apr 25, 2024
Format:
Podcast episode
Description
Altice ‘Jenga Tower’ Menaces Global Credit Markets (Podcast)Altice distress is ripping through global credit markets and setting some ugly precedents for debt investors. Aidan Cheslin from Bloomberg Intelligence joins Irene Garcia Perez, Eleanor Duncan and James Crombie with Bloomberg News to discuss the ongoing drama. Billionaire owner Patrick Drahi has taken a combative approach to creditors, who are joining forces in an effort to avoid steep losses. Credit rating downgrades and asset price falls at Altice France — which has more than €24 billion ($25.6 billion) in debt — make lenders cautious and undermine the ability of other risky companies to refinance debt. The French telecom is “teetering like a Jenga tower with unsustainable leverage and negative free cash flow,” according to BI’s Cheslin.See omnystudio.com/listener for privacy information.
Released:
Apr 25, 2024
Format:
Podcast episode
Titles in the series (68)
Structured Credit; Healthcare Distress by The Credit Edge by Bloomberg Intelligence