Moody's puts three BBB- industrial hybrids on review after a dividend cut
The hybrid bid assumed the coupon was sacred. One issuer just tested that assumption.
Priya NairFinance Reporter
Stacks of coins beside a growing plant
NEW YORK — The hybrid bid assumed the coupon was sacred. One issuer just tested that assumption.
The review covers instruments that had been treated as part-equity in corporate targets. A skipped junior coupon is how that treatment gets revisited in a week.
Priya Nair
Finance Reporter
Writes on banks, private credit, and the regulatory perimeter around nonbank lenders.