By Dena Aubin NEW YORK, Aug 19 (Reuters) - Massive cash outflows and rising interest rates are taking the steam out of the U.S. junk bond market, prompting several bond sales to be pulled or trimmed in size. The cancellations are a sharp contrast to conditions earlier this year, when a strong rally left the market awash with cash and even the lowest-rated companies easily sold bonds. "It had to happen," said Kingman Penniman, president of high-yield research firm KDP Investment ...
Premium Content (PAID Subscription Required)
"US companies shelve junk bond deals as rates rise" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.