Credit Edge: Seix Fears Zombie Distress on High Rates (Podcast)
Pressure on highly-indebted companies will intensify as interest rates remain elevated, according to Seix Investment Advisors. “We have a lot of credit zombies — B3/B minus or CCC rated credits...
By Mariam Traore · Bloomberg
Pressure on highly-indebted companies will intensify as interest rates remain elevated, according to Seix Investment Advisors. “We have a lot of credit zombies — B3/B minus or CCC rated credits — that still have very weak interest coverage, generating zero free cash flow,” George Goudelias, chief investment officer of the firm’s leveraged finance platform, tells Bloomberg News’ James Crombie and Bloomberg Intelligence’s Jean-Yves Coupin in this episode of the Credit Edge podcast. “There are mine