BlackRock Faces 100% Loss on Private Loan, Adding to Credit Market Pain
About a month ago, BlackRock Inc. deemed the private debt it had extended to Renovo Home Partners, a struggling home improvement company, to be worth 100 cents on the dollar....
By Davide Scigliuzzo, Silla Brush · Bloomberg Markets
About a month ago, BlackRock Inc. deemed the private debt it had extended to Renovo Home Partners, a struggling home improvement company, to be worth 100 cents on the dollar. As of last week, the firm had a new assessment: zero.