Warburg Pincus related stories
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Weekly Downgrade Wrap-UpPer usual, we have a week’s worth of ratings actions on LBO-backed companies from ratings agencies Standard & Poor’s and Moody’s Investor Services. It’s the third light collection in a row — the past two weeks have only see ratings actions on five companies total; this week there are three. Company: Energy Future Holdings Corp. Sponsor: GS Capital, KKR, Morgan Stanley Private Equity, TPG, Citigroup Private Equity are sponsors. Ratings Action: Moody's downgraded the company's corporate family rating and probability of default rating to Caa1 from B3. Highlights: The rating action reflects the rating agency's view that the capital structure is untenable and will likely prompt the company to pursue some form of restructuring activity. "EFH's longer-term fundamentals remain weak. Fundamental concerns include: the magnitude of its debt ($44 billion) and significant looming maturities in 2014 (approximately $23 billion)."
- peHUB Wire: Friday, August 7, 2009
Random Ramblings
- peHUB Wire: Friday, August 7, 2009
Random Ramblings
- Week in deals, August 3, 2009
Summary of North American tech companies and other businesses that raised venture-related financing in the past week
- Suniva raises $75M
The company had previously raised $55M in funding
- CVC submits only bid for InBev assets
The final sale could go for $2B
- Done deals, week of Aug. 3
Deals are disclosed transactions from July 22 to July 29, based on Thomson Reuters data
- PE-Backed Bankruptcies Surpass 2008, And It's Only July
There have now been more PE-backed bankruptcies in 2009 than in all of 2008, based on data compiled by peHUB and Buyouts Magazine. Five more companies filed in July, bringing the yearly tally to 53 -- compared to just 49 last year. Station Casinos was the month's largest bust (in terms of purchase price), having been acquired by Colony Capital in 2007 for $5.4 billion. The others were all originally sub-billion deals, including CCS Medical (Warburg Pincus) and RathGibson (DLJ Merchant Banking). You can download the entire 2009 chart after the jump. But first, a bunch of disclaimers: Our data is only for control-sponsored deals that included at least one U.S. sponsor. As such, we exclude foreign-sponsored companies (like Arclin), VC-backed companies (like ProtoStar) and PIPEs (like BearingPoint). We do track